T&D Holdings, through its wholly owned subsidiary T&D United Capital Co., Ltd. (TDUC), has announced that it is investing in a new reinsurance sidecar vehicle facilitated by a limited partnership.
The vehicle is the parent of a newly formed Bermuda-based reinsurance sidecar called Fortitude Carlyle Asia Reinsurance Ltd., which is expected to provide third-party capitalised reinsurance to some of the insurance business that had originally been reinsured by Fortitude Re.
The business will then be retroceded by a subsidiary of FGH Parent LP (Fortitude), a reinsurance holding company domiciled in Bermuda and an equity-method affiliate of T&D.
Under the agreement, the investment is expected to result in the vehicle becoming an equity-method affiliate of the T&D group from the third quarter of the fiscal year ending March 31, 2026.
It has been reported that Fortitude and Carlyle have also made significant investments in the newly established vehicle.
T&D noted that it does not intend to revise its earnings forecasts for the fiscal year ending March 31, 2026. However, it will promptly disclose any impact on its consolidated financial results, upon identification.
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