AIG and The Carlyle Group Announce Completion of Carlyle’s 19.9 Percent Investment in Fortitude Re
November 14 2018 - 8:00AM
Business Wire
Fortitude Re Launches Brand
American International Group, Inc. (NYSE:AIG) and The Carlyle
Group (NASDAQ:CG) announced today that Carlyle completed its
acquisition of a 19.9% stake in Fortitude Group Holdings, LLC,
whose group companies operate as Fortitude Re (formerly DSA Re).
The transaction was first announced on August 1, 2018, and closed
following receipt of regulatory approvals and satisfaction of other
customary closing conditions.
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the full release here:
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Fortitude Re’s new name represents the company’s focus on and
expertise in managing long-dated, complex risks. Fortitude Re has
also launched its website, http://www.Fortitude-re.com, which
provides more information about the organization and its
leadership.
James Bracken, Chief Executive Officer of Fortitude Re, said,
“We are hard at work building Fortitude Re for long-term success.
The closing of Carlyle’s investment and brand launch are two key
milestones on that journey.”
Brian Schreiber, Managing Director and Co-Head of Carlyle Global
Financial Services Partners, said, “We look forward to working with
our partners at AIG and Fortitude Re to grow the business and
extend Carlyle’s asset management platform.”
About AIG
American International Group, Inc. (AIG) is a leading global
insurance organization. Founded in 1919, today AIG member companies
provide a wide range of property casualty insurance, life
insurance, retirement products, and other financial services to
customers in more than 80 countries and jurisdictions. These
diverse offerings include products and services that help
businesses and individuals protect their assets, manage risks and
provide for retirement security. AIG common stock is listed on the
New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig | Twitter: @AIGinsurance
www.twitter.com/AIGinsurance | LinkedIn:
www.linkedin.com/company/aig. These references with additional
information about AIG have been provided as a convenience, and the
information contained on such websites is not incorporated by
reference into this press release.
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds and insureds are therefore not
protected by such funds.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $212 billion of assets under management across 339
investment vehicles as of September 30, 2018. Carlyle’s purpose is
to invest wisely and create value on behalf of its investors, many
of whom are public pensions. Carlyle invests across four segments –
Corporate Private Equity, Real Assets, Global Credit and Investment
Solutions – in Africa, Asia, Australia, Europe, the Middle East,
North America and South America. Carlyle has expertise in various
industries, including: aerospace, defense & government
services, consumer & retail, energy, financial services,
healthcare, industrial, real estate, technology & business
services, telecommunications & media and transportation. The
Carlyle Group employs more than 1,625 people in 31 offices across
six continents.
AIG Forward-Looking Statements
Certain statements in this press release constitute
forward-looking statements. These statements are not historical
facts but instead represent only AIG’s belief regarding future
events, many of which, by their nature, are inherently uncertain
and outside AIG’s control. It is possible that actual results will
differ, possibly materially, from the anticipated results indicated
in these statements. Factors that could cause actual results to
differ, possibly materially, from those in the forward-looking
statements are discussed throughout AIG’s periodic filings with the
SEC pursuant to the Securities Exchange Act of 1934.
The Carlyle Group Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements include, but are not limited to, statements related to
our expectations regarding the performance of our business, our
financial results, our liquidity and capital resources,
contingencies, our distribution policy, and other non-historical
statements. Such forward-looking statements are subject to various
risks, uncertainties, assumptions and other important factors that
could cause actual outcomes or results to differ materially from
those indicated in these statements including, but not limited to,
those described under the section entitled “Risk Factors” in our
most recent Annual Report on Form 10-K filed with the SEC, as such
factors may be updated from time to time in our periodic filings
with the SEC, which are accessible on the SEC’s website at
www.sec.gov. We undertake no obligation to publicly update or
review any forward-looking statements, whether as a result of new
information, future developments or otherwise, except as required
by applicable law.
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version on businesswire.com: https://www.businesswire.com/news/home/20181114005478/en/
AIGInvestors:Liz Werner,
+1-212-770-7074elizabeth.werner@aig.comorMedia:Daniel O’Donnell,
+1-212-770-3141daniel.odonnell@aig.comorThe Carlyle
GroupInvestors:Daniel Harris,
+1-212-813-4527daniel.harris@carlyle.comorMedia:Christa Zipf,
+1-212-813-4578christa.zipf@carlyle.com
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