Fortitude gets A3 rating from Moody’s

Moody’s Ratings has assigned an A3 insurance financial strength rating to Bermuda-based Fortitude Re’s operating companies. The outlook is stable. 

A statement from Fortitude Re said the announcement came on the heels of Fitch Ratings raising the company’s outlook to positive from stable and affirming the BBB+ insurer financial strength ratings to Fortitude Reinsurance and Fortitude Life Insurance and Annuity. 

The company said both rating agencies noted Fortitude Re’s growth as a significant player in the global block and flow reinsurance markets, the company’s expanding business diversification, solid capital position, and strong and expanding profitability.

“These positive ratings underscore our commitment to delivering a high-value and high-quality experience to our clients and the policyholders we serve,” said Alon Neches, CEO, Fortitude Re. “We are pleased to see our performance recognized by these agencies and look forward to continuing our upward ratings trajectory.”

Fortitude Re had $111 billion in total assets as of December 31, 2023. 

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