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Business Wire
21 hours ago
- Business
- Business Wire
Fortitude Re Earns Great Place To Work Certification™ for Second Consecutive Year
HAMILTON, Bermuda--(BUSINESS WIRE)--FGH Parent, L.P. ('Fortitude Re'), today announced that it has received Great Place to Work Certification™ by Great Place To Work®, the global authority on workplace culture and employee experience. This is the company's second year to receive this prestigious recognition. 'This recognition is especially meaningful because it's a direct result of the collective feedback and experiences of our team members,' said CEO Alon Neches. 'It reflects the care, collaboration and shared purpose that defines our culture and validates the work we've done to make Fortitude Re a place where our people can truly thrive.' The Great Place to Work Certification™ is based on results of the Trust Index™ survey administered by the Great Place to Work Institute, which assesses employee satisfaction in key areas, from credibility and respect to fairness and camaraderie. 'Being named a Great Place to Work is such an honor, but the real achievement lies in the people behind it,' said Denise Nichols, Chief People Officer. 'Our colleagues are at the heart of everything we do and their passion, dedication and support for one another drives our success. I'm extremely proud of the culture we've built, and this recognition is a celebration of the extraordinary people who shape it every day.' Highlights from the survey results include: 94% of team members said they are treated fairly, regardless of their gender, race, age, and/or sexual orientation. 92% stated that management is honest and ethical in its business practices. 91% said when they joined Fortitude Re, they were made to feel welcome. 91% shared they are given a lot of responsibility. 89% said they feel good about the ways Fortitude Re contributes to the community. 88% are proud to tell others they work at Fortitude Re. 85% said that people care about each other here. 83% feel that they make a difference at Fortitude Re. 83% stated they're offered training or development to further themselves professionally. "Great Place To Work Certification is a highly coveted achievement that requires consistent and intentional dedication to the overall employee experience," says Sarah Lewis-Kulin, Vice President of Global Recognition at Great Place To Work. She emphasizes that Certification is the sole official recognition earned by the real-time feedback of employees regarding their company culture. 'By successfully earning this recognition, it is evident that Fortitude Re stands out as one of the top companies to work for, providing a great workplace environment for its employees." According to Great Place To Work research, job seekers are 4.5 times more likely to find a great boss at a Certified great workplace. Additionally, employees at Certified workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company's profits and have a fair chance at promotion. About Fortitude Re Fortitude Re is a leading provider of reinsurance solutions with $106 billion in total assets as of Dec. 31, 2024. The foundations of our business model are our exceptional insurance professionals and the support of the world's most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients' highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate. For more information visit, and follow Fortitude Re on LinkedIn.
Yahoo
27-02-2025
- Business
- Yahoo
Fortitude Re Announces Long-Term Care and Individual Disability Insurance Reinsurance Agreement with Unum Group
HAMILTON, Bermuda, February 27, 2025--(BUSINESS WIRE)--FGH Parent, L.P., (together with its subsidiaries, "Fortitude Re"), a leading global reinsurance company, today announced the signing of a reinsurance transaction between its subsidiary, Fortitude Reinsurance Company Ltd. ("FRL") and Unum Life Insurance Company of America ("Unum"), a subsidiary of Unum Group (NYSE: UNM). Upon receipt of regulatory approvals and subject to satisfaction or waiver of certain other customary closing conditions, Unum will cede to FRL, effective as of January 1, 2025, $3.4 billion of individual long-term care ("LTC") statutory reserves and approximately $120 million of Unum Group's multi-life individual disability insurance ("IDI") in-force premium. The cession represents 19% of Unum Group's total LTC block and 20% of its in-force IDI premium. Unum will continue to service and administer the reinsured policies. Simultaneously with the closing of the reinsurance transaction with Unum, FRL will enter into an agreement to retrocede 100% of the LTC and IDI insurance risks to a highly rated global reinsurance partner. FRL will therefore retain only the underlying spread-based risks associated with this block of business. "Today's announcement underscores the deliberate approach we have taken toward growth," said Alon Neches, CEO, Fortitude Re. "When partners like Unum place their trust in us, we ensure the value delivered honors that trust. I would like to extend a special thank you to the many professionals who have collaborated and worked tirelessly to achieve this important milestone." Sidley Austin LLP served as legal counsel to Fortitude Re. About Fortitude Re Fortitude Re is a leading provider of reinsurance solutions with $106 billion in total assets as of Dec. 31, 2024. The foundations of our business model are our exceptional insurance professionals and the support of the world's most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients' highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate. For more information visit, and follow Fortitude Re on LinkedIn. View source version on Contacts Media Contact Mary Beth 423-596-1449 Sign in to access your portfolio
