Fortitude Re Announces Closing of $3.8 Billion Long-Term Care Reinsurance Agreement with Unum Group
Business Wire•03/11/2026•18:06 ET
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Key Highlights
- ➤$3.8B statutory reserves reinsured across approximately 50,000 long-term care policies
- ➤$4.5B best estimate reserve value under the Fortitude Re-Unum transaction
- ➤FRL retroceded 100% of long-term care insurance risks to a global reinsurer
- ➤Unum continues servicing and administering the reinsured policies
- ➤FRL retains only underlying spread-based risks from the business block
Fortitude Re Announces Closing of $3.8 Billion Long-Term Care Reinsurance Agreement with Unum Group
Fortitude Re today announced the closing of the previously announced reinsurance transaction between its subsidiary, Fortitude Reinsurance Company Ltd. (“FRL”), and Unum Life Insurance Company of America (“Unum”), a subsidiary of Unum Group (NYSE: UNM).
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