Aspida Re

We provide efficient and secure life and annuity reinsurance solutions.


About Us

Aspida Life Re Ltd. (Aspida Re) (formerly F&G Reinsurance Ltd) is a Class E licensed company based in Bermuda that provides annuity and life insurance companies with tailored risk management solutions. Aspida Re is an indirect subsidiary of Ares Management Corporation (NYSE: ARES), a leading global alternative investment manager with $262bn1 in AUM.

Aspida Re’s experienced team of reinsurance professionals works to optimize each reinsurance transaction to maximize the benefits for our clients. Our customized reinsurance solutions help our partners efficiently meet their capital needs while seeking to improve long-term financial results and manage the growth of new business.

Aspida Re’s services are geared to reduce the resource requirements and product launch risks of its partnering carriers, including product development assistance, implementation, valuation, and financial reporting support.

1. Includes approximately $13.7 billion of AUM as of June 30, 2021 including for the acquisition of Black Creek Group, which closed on July 1, 2021.

Aspida Re is rated "A- (Excellent) with stable outlook" by AM Best.

Deep Capabilities

Our team’s extensive experience in reinsurance, asset liability management, and capital optimization helps carriers looking for new reinsurance capacity reach their goals — all while providing a smooth experience.

Broad Expertise

We specialize in closed block and new business flow reinsurance of asset-intensive and interest rate-sensitive annuity and life insurance liabilities.

Tailored Solutions

We help our clients optimize return on capital and manage growth by implementing bespoke and innovative transactions to release capital, improve ratings, and support new initiatives.


Strong Foundation

With the support of Ares Management Corporation, Aspida Re can execute large reinsurance transactions.

Asset Management

We’ve partnered with Ares Insurance Solutions, who has insurance management experience and over $30 billion2 in assets invested across over 100 insurance clients.

2. As of June 30, 2021. AUM reflects amounts invested across Ares funds, SMAs and co-investments versus one discrete platform

Meet the Team

Alex Cowley

Chief Executive Officer

Alex oversees the growth and development of Aspida Re with a focus on client results. Alex brings over 35 years of insurance, reinsurance and actuarial experience to Aspida Re having previously served in a variety of senior roles at UBS, Lehman Brothers, GenRe, and MetLife.

Jon Steffen


Jon joined Aspida Re in 2021 as President. He brings a decade of Bermuda life reinsurance experience to the team, focusing on valuation, capital management, and risk. Prior to joining Aspida, Jon held various leadership roles at Athene and ACE.

Eric Linehan

Chief Operating Officer

Eric joined the company in 2020 and oversees the design of business strategies as well as project management, associated investment activity, and reinsurance treaty guidelines. Prior to joining Aspida Re, Eric held leadership roles at F&G Life, Capital One, and Fannie Mae.

Alana Rathbun

Chief Risk Officer

Alana joined the company in March 2020 and brings over 25 years of experience in actuarial and risk management functions. She currently oversees the risk management function for the company, including regulatory capital reporting.

Our Board Members

  • Gregory Boyko
    Andrew Cook
  • Blair Jacobson
    David Reilly

Contact Us

  • Aspida Re
    Victoria Place
  • 31 Victroia Street
  • Hamilton HM 10
  • +1 441 437 9450