Fortitude Re finalises $3.8bn long-term care reinsurance deal with Unum Group

Bermuda-based reinsurer Fortitude Re has finalised a USD $3.8 billion long-term care (LTC) reinsurance agreement with Unum Group, a US insurance and employee benefits provider, involving a portfolio of approximately 50,000 individual insurance policies. The transaction, completed through Fortitude Reinsurance Company Ltd. (FRL) and Unum Life Insurance Company of America (Unum America), follows an earlier…

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