Fortitude Re Announces $3.8 Billion Long-Term Care Reinsurance Agreement with Unum Group
Unum Group has entered a $3.8 billion reinsurance agreement with Fortitude Re to transfer a block of individual long-term care policies, reducing its reserve liabilities. The transaction involves Unum recapturing the business from its subsidiary Fairwind Insurance Company and ceding it to Fortitude Reinsurance Company Ltd, covering $3.8 billion in statutory reserves.
Key figures
- Deal Value Usd
- $3.8 billion
- Statutory reserves
- $3.8 billion
- Best estimate reserves
- $4.5 billion
AI analysis
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