New York firm boosts Asia reach through Fortitude Re

AB will manage private alternative assets for FCA Re.

AllianceBernstein L.P. (AB) is expanding its insurance presence across Asia through an equity investment in Fortitude Carlyle Asia Reinsurance, Ltd. (FCA Re), a reinsurance entity created by Fortitude Re.

The investment management firm said it will be one of the lead investors in FCA Re, which is focused on Asian insurance liabilities. 
AB will manage private alternative assets for FCA Re and take a seat on its board of directors.

FCA Re is a Bermuda-based Class E licensed reinsurer. It will initially take on a portion of existing liabilities from Fortitude Re and will also participate in future reinsurance transactions across Asia.