Unum Group Announces $3.8 Billion Long-Term Care Reinsurance Transaction with Fortitude Re
Unum Group announced a reinsurance agreement with Fortitude Re to cede $3.8 billion of long-term care statutory reserves, covering 50,000 individual policies. Combined with a prior 2025 transaction, this move reduces Unum's total LTC statutory reserves by approximately 40%, marking a major step in its Closed Block strategy to lower legacy risk.
Key figures
- Leverage
- 25%
- Rbc ratio
- 400% to 425%
- Policies reinsured
- 50000
- Yr end 2026 liquidity
- $1.5 billion to $2.0 billion
- Best estimate reserves
- $4.5 billion
- Remaining ltc reserves
- $11.0 billion
- Cumulative ltc reduction
- 40%
- Statutory reserves reinsured
- $3.8 billion
AI analysis
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