Fortitude Re's adjusted net income reached $796 million in the first half of 2026, with ROA at 1.0%. Total liabilities expanded to approximately $100 billion, and the company is said to be targeting a scale of $140 billion–$150 billion in 2027, although management stressed that this is not official guidance.
T&D Holdings' reinsurance subsidiary Fortitude Re announced adjusted net income of $796 million and ROA of 1.0% for the first half of 2026. Total liabilities had expanded to approximately $100 billion, and the company indicated that it was targeting a range of $140 billion–$150 billion for 2027. However, it stressed that this was not guidance and that underwriting discipline remained its top priority.
Financial highlights included net investment assets of approximately $76 billion, broadly unchanged year on year, group ECR of 205% at year-end 2025, and U.S. operating company RBC of 598% at year-end 2025. The investment portfolio remained high quality, and exposure to data centers was disclosed at approximately $2 billion.
Data-center exposure accounted for approximately 2.5% of the overall portfolio and was described as being primarily investment-grade backed. Fortitude Re said it had completed a block transaction of approximately $5.5 billion with Unum in 2026 and planned to acquire Dayforward and begin direct retail annuity sales as Fortitude Life in early 2027.
Looking ahead, the company indicated a target range of $140 billion–$150 billion for total liabilities in 2027, while identifying U.S. and Asian block transactions, FABN, retail annuities, flow reinsurance and FCA Re as growth drivers. Management reiterated its emphasis on balancing discipline and growth, and said it viewed Japan as its second home market as it expands in Asia.