Fortitude Re, headquartered in Hamilton, Bermuda, is a leading provider of reinsurance and run-off management solutions. As a specialist in managing legacy insurance portfolios, Fortitude Re helps insurers and reinsurers achieve strategic risk management and capital optimization. With a commitment to operational excellence, innovative solutions, and financial strength, Fortitude Re partners with clients to address their long-term liabilities and achieve stable financial outcomes.
Services and Solutions
Fortitude Re provides a comprehensive suite of reinsurance and run-off management products designed to meet the diverse needs of its clients. Key service areas include:
- Life & Annuity Reinsurance: Fortitude Re offers reinsurance solutions for life insurance and annuity products, helping insurers manage longevity risk, mortality risk, and policyholder behavior risk. These solutions ensure financial stability and regulatory compliance.
- Property & Casualty Reinsurance: The company provides reinsurance solutions for property and casualty insurance portfolios, covering risks such as natural disasters, liability, and business interruption. These products help insurers manage capital and reduce risk exposure.
- Run-off Management: Fortitude Re specializes in managing run-off insurance portfolios, offering solutions for discontinued lines of business. This includes claims handling, policy administration, and risk management, enabling insurers to focus on their core operations.
- Capital Optimization: The company delivers capital optimization solutions, helping insurers improve their capital efficiency and regulatory compliance. This includes financial restructuring, portfolio transfers, and strategic reinsurance transactions.
- Claims Management: Fortitude Re provides comprehensive claims management services, ensuring efficient and effective handling of claims to minimize losses and improve customer satisfaction.
Actuarial Opportunities
Fortitude Re offers a range of opportunities for actuaries, particularly within its life and annuity reinsurance, property and casualty reinsurance, and run-off management divisions. Actuaries at Fortitude Re play a crucial role in product pricing, risk assessment, and financial forecasting. Key areas where actuaries contribute include:
- Product Pricing: Developing and implementing pricing strategies for various reinsurance and run-off management products to ensure competitiveness and financial sustainability.
- Risk Management: Analyzing and managing the risks associated with reinsurance and run-off portfolios to maintain the company's financial strength and stability.
- Data Analysis and Modeling: Leveraging advanced data analytics and modeling techniques to analyze market trends, forecast financial outcomes, and support decision-making processes.
- Financial Reporting and Compliance: Ensuring that reinsurance and run-off products comply with regulatory requirements and industry standards. This includes preparing actuarial reports and maintaining actuarial documentation.
- Research and Development: Conducting research on emerging trends, market dynamics, and innovative solutions to enhance Fortitude Re’s product offerings and service capabilities.
Employee Benefits and Compensation
Fortitude Re is dedicated to attracting and retaining top actuarial talent by offering competitive compensation and a comprehensive benefits package. Key benefits include:
- Health and Wellness: Fortitude Re provides comprehensive health insurance plans, including medical, dental, and vision coverage. The company also offers wellness programs and resources to support employee health and well-being.
- Retirement and Savings: Employees have access to retirement savings plans, including a 401(k) plan with company match, to help secure their financial future.
- Work-Life Balance: Fortitude Re supports flexible work arrangements, including remote work options and flexible scheduling, to help employees achieve a healthy work-life balance.
- Professional Development: The company invests in employee growth through various learning and development programs, including tuition assistance, leadership training, and career advancement opportunities.
- Paid Time Off: Generous paid time off policies, including vacation, holidays, and personal leave, are provided to ensure employees can recharge and maintain a healthy work-life balance.
Business Divisions
Fortitude Re operates through several key business divisions, each specializing in different areas of reinsurance and run-off management:
- Life & Annuity Reinsurance: Provides reinsurance solutions for life insurance and annuity products, helping insurers manage longevity, mortality, and policyholder behavior risks.
- Property & Casualty Reinsurance: Offers reinsurance solutions for property and casualty insurance portfolios, covering risks such as natural disasters, liability, and business interruption.
- Run-off Management: Specializes in managing run-off insurance portfolios, offering solutions for discontinued lines of business, including claims handling, policy administration, and risk management.
- Capital Optimization: Delivers capital optimization solutions to help insurers improve capital efficiency and regulatory compliance through financial restructuring, portfolio transfers, and strategic reinsurance transactions.
- Claims Management: Provides comprehensive claims management services to ensure efficient and effective handling of claims, minimizing losses, and improving customer satisfaction.
Summary
Fortitude Re is a leader in providing innovative reinsurance and run-off management solutions, dedicated to helping insurers manage risks and achieve financial stability. With a strong presence in the United States and internationally, Fortitude Re offers comprehensive reinsurance products and a supportive work environment, making it an attractive employer for actuaries and other financial professionals. Actuarial professionals looking for opportunities at Fortitude Re can expect to find a dynamic workplace that values innovation, professional development, and employee well-being.