Fortitude Re, based in Hamilton, Bermuda, has announced the acquisition of substantially all of the assets of Dayforward Inc., a digitally native insurance technology company founded in 2020. The acquired business will operate through a newly formed entity that will be renamed Fortitude Life and will function as a subsidiary of Fortitude Re. The transaction 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.
Transaction Structure and Scope
The transaction includes Dayforward's proprietary technology platform, distribution agreements, intellectual property, licensed insurance agency, and employees. The deal also transfers an integrated platform that supports the full policy lifecycle, including agent onboarding, application processing, policy issuance, commission payments, and in-force servicing. It does not include Dayforward's insurance entities or the legacy policies and liabilities associated with them, and the newly formed entity will operate as a subsidiary of Fortitude Re.
Leadership Perspectives
Alon Neches, CEO of Fortitude Re, said the Dayforward team has built technology capabilities that perfectly complement Fortitude Re's underwriting, asset and liability management, and investment expertise. He noted that partnering with Dayforward strengthens the company's ability to originate and manage business in new ways while preserving its disciplined approach to growth. Aaron Shapiro, CEO of Dayforward, said joining Fortitude Re provides the capital foundation and institutional expertise needed to scale the company's vision faster than it could have achieved on its own.
Technology and Operational Continuity
Dayforward was founded in 2020 as a digitally native insurance technology company focused on modernizing how annuities are issued, administered, and delivered to consumers. Its proprietary end-to-end platform supports agent onboarding, application processing, policy issuance, commission payments, and in-force servicing for annuity distribution partners. The newly formed Fortitude Life entity will pair Dayforward's digital capabilities with Fortitude Re's capital strength and insurance expertise.
Company Profiles
Fortitude Re is a leading global reinsurer with more than US$100 billion in reserves, backed by world-class investors including Carlyle and T&D Insurance Group. The company combines deep expertise, disciplined execution, and a strong capital base to help clients navigate significant risk and capital challenges. Dayforward is a digitally native insurance technology company whose proprietary platform supports the full policy lifecycle.
Advisory and Execution
Willkie Farr & Gallagher LLP served as legal advisor to Fortitude Re on the acquisition. The newly formed entity will operate as a subsidiary of Fortitude Re, while Dayforward's team continues to lead day-to-day operations with the benefit of Fortitude Re's resources and capabilities. This structure is intended to preserve Dayforward's entrepreneurial energy and digital capabilities while integrating them with Fortitude Re's capital strength and insurance expertise.
Broader Market Implications
The acquisition broadens Fortitude Re's capabilities across insurance technology, distribution, and policy administration. These capabilities are grounded in the same discipline and expertise that underpin Fortitude Re's core reinsurance business. The company said the move reinforces its commitment to institutional reinsurance clients while extending innovative, tailored solutions to a broader range of clients, partners, and policyholders, and it expects the combination to support competitive pricing and world-class service.
By integrating Dayforward's proprietary platform and specialized team, Fortitude Re is positioning itself to support annuity distribution partners with a more modern and efficient operating model. The transaction does not include legacy insurance liabilities, which allows the newly formed Fortitude Life to focus on growth and service without assuming historical policy obligations. Overall, the acquisition reflects Fortitude Re's broader effort to combine capital strength with digital innovation across the insurance value chain.