Fortitude Re Acquires Rx Life Insurance Company to Establish U.S. Reinsurance Platform

The Carlyle Group and T&D Acquire Majority Interest in Fortitude Group Holdings from AIG

November 25, 2019

Insurance

A Carlyle-managed fund together with T&D Holdings acquired a 76.6% interest in Fortitude Group Holdings (which operates as Fortitude Re) from American International Group (AIG) for approximately $1.8 billion (AIG received about $2.2 billion including additional consideration). Post-closing ownership is Carlyle and its fund investors ~71.5%, T&D 25% and AIG 3.5%; the deal positions Fortitude Re as an independent platform focused on reinsurance and run-off management for legacy insurance liabilities.

Fortitude Group Holdings Acquires AIG Third-Party Administrators FLAS and FPCS

January 4, 2022

Insurance

Fortitude Group Holdings, the parent of Bermuda-based reinsurer Fortitude Re, acquired Fortitude Life & Annuity Solutions (FLAS) and Fortitude P&C Solutions (FPCS) — two third‑party administrator businesses — from American International Group (AIG). FLAS (250 employees) is based in Nashville and services ~4 million life insurance policies; FPCS (50 employees) is based in Jersey City and manages complex P&C casualty claims. The deals expand Fortitude Re's life & annuity administration and casualty claims capabilities for runoff portfolios.

Vantage Group Acquires Admitted Carrier Vantage Risk Assurance Company

February 8, 2022

Insurance

Vantage Group Holdings Ltd. has closed the purchase of an admitted-lines carrier, Vantage Risk Assurance Company (formerly Heritage Casualty Insurance Company), from Union Fidelity Life Insurance Company. Concurrently, funds managed by Carlyle and Hellman & Friedman committed up to an additional $200 million to support Vantage’s continued growth and to expand capabilities in its U.S. insurance platform.

AmeriLife Acquires Forward Strategies Insurance Brokerage

November 5, 2020

Insurance

AmeriLife Group, LLC acquired Forward Strategies Insurance Brokerage, a Tucson-based insurance marketing firm that focuses on annuities, life insurance, long-term care and hybrid products. The acquisition expands AmeriLife’s agent support, product distribution and technology capabilities to better serve independent agents and the retirement/senior market.

USI Insurance Services Acquires Forté Benefits

February 24, 2020

Insurance

USI Insurance Services has acquired Fort Worth-based Forté Benefits, a full-service employee benefits broker and consulting firm. All of Forté Benefits’ employees and four partners will join USI; terms were not disclosed and the deal expands USI’s presence and employee-benefits capabilities in the Fort Worth/Texas market.

AmeriLife Acquires Insurance 360

March 16, 2021

Insurance

AmeriLife Group, LLC has acquired Insurance 360, an Austin-based independent insurance agency founded in 1983 that offers term life, universal life, disability income, long-term care, and survivorship insurance. The acquisition expands AmeriLife's life and health brokerage distribution capabilities and brings Insurance 360’s client base (over 50,000 policyholders) and leadership — Scott Harper will serve as principal — into the AmeriLife platform.