Foundry Insurance Services Ltd. (“Foundry”), a newly established centralized management platform for the life and annuity sector, has officially launched in Bermuda. Foundry is dedicated to delivering scalable risk and capital solutions to life and annuity insurance companies worldwide.

Foundry’s first sponsored reinsurance vehicle, Fort Greene Reinsurance SPC Limited, was recently formed and capitalized with support from Blackstone managed funds and provides long-term, on demand growth capital to F&G Annuities and Life, Inc. through a forward flow reinsurance agreement covering certain fixed indexed annuity products.

Foundry is led by Andrew Markus, a seasoned Bermuda insurance executive. Mr. Markus was most recently the CEO of Atlantic Capital Partners LLC, a strategic consultancy advising on new company formations in the insurance and reinsurance space. He was previously the CEO of Langhorne Reinsurance (Bermuda) Ltd., a Bermuda Class E reinsurer.

“I’m thrilled to launch Foundry at a time when insurers are increasingly seeking partners that understand both their risk profiles and capital needs,” said Andrew Markus, CEO of Foundry. “Our goal is to build a flexible, institutional-quality platform that can support the evolving landscape of life and annuity reinsurance, and we’re excited to have the institutional backing of Blackstone-managed funds backing us.”

Philip Sherrill, Blackstone’s Global Head of Insurance, added: “We’re proud to back the launch of Foundry and Fort Greene Re and see enormous potential in the capital efficiency and risk structuring capabilities it brings to life and annuity insurers. Andrew is a proven leader with a deep understanding of the global insurance market and we’re confident he’ll build Foundry into a leading force in the reinsurance ecosystem.”

Foundry will take up residence in Wellesley House in Hamilton, Bermuda later this year.

About Foundry Insurance Services Ltd.

Foundry Insurance Services Ltd. is a Bermuda-based management platform that designs and delivers risk and capital solutions for life and annuity insurers globally seeking growth capital, scalability and efficiency.

Contact

info@foundry.is