Fortitude Re, formed by FGH Parent, L.P. and its subsidiaries, has acquired nearly all the assets of Dayforward, a digitally native insurance technology company, through a newly formed entity that will be renamed Fortitude Life.
The transaction includes Dayforward’s technology platform, distribution agreements, intellectual property, licensed insurance agency and its team, but excludes the firm’s insurance entities or the associated legacy policies and liabilities.
Founded in 2020, Dayforward’s platform is designed to support annuity distribution partners. It handles the full policy lifecycle, including agent onboarding, application processing, issuance, commission payments, and servicing.
The newly formed entity will operate as a subsidiary of Fortitude Re, with Dayforward’s team continuing to lead the business with the benefit of Fortitude Re’s resources and capabilities.
Alon Neches, CEO, Fortitude Re, commented: “The Dayforward team has built a set of technology capabilities that perfectly complement our underwriting, ALM and investment expertise.
“Partnering with Dayforward strengthens our ability to originate and manage business in new ways while preserving the disciplined approach that has guided Fortitude Re’s growth. We look forward to combining Dayforward’s entrepreneurial energy and digital capabilities with Fortitude Re’s capital strength and insurance expertise.”
The acquisition advances Fortitude Re’s long-term strategy to build capabilities that support clients across a broad range of insurance channels with competitive pricing and world-class service. The deal expands the reinsurer’s capabilities across insurance technology, distribution and policy administration, reinforcing its commitment to providing tailored solutions to a broader range of clients, partners, and policyholders.
Aaron Shapiro, CEO, Dayforward, said: “We founded Dayforward to modernise how annuities are issued, administered and delivered to consumers. Joining Fortitude Re gives us the capital foundation and institutional expertise to scale that vision at a pace we could not have achieved on our own.
“Fortitude Re’s approach to risk management and its long-term commitment to policyholders align closely with how we have built this business, and we look forward to building on that shared foundation together.”
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