Unum Group Finalizes $3.4 Billion Reinsurance Agreement with Fortitude Re

Reuters

07/02

<a href="https://laohu8.com/S/UNMA">Unum Group</a> Finalizes $3.4 Billion Reinsurance Agreement with Fortitude Re

Unum Group has announced the completion of a significant reinsurance transaction with Fortitude Re, a global reinsurance company. Under the terms of the agreement, effective January 1, 2025, Unum will cede $3.4 billion of individual long-term care statutory reserves and approximately $120 million of multi-life individual disability insurance in-force premiums to Fortitude Reinsurance Company Ltd., a subsidiary of Fortitude Re. This cession represents 19% of Unum Group's total long-term care block and 20% of its in-force individual disability insurance premium. Despite the transfer, Unum will continue to manage and administer the reinsured policies. Additionally, Fortitude Re has arranged to retrocede the insurance risks to a highly rated global reinsurance partner, retaining only the underlying spread-based risks. Sidley Austin LLP provided legal counsel to Fortitude Re for this transaction.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Unum Group published the original content used to generate this news brief via Business Wire (Ref. ID: 20250701030245) on July 01, 2025, and is solely responsible for the information contained therein.

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Under the terms of the agreement, effective January 1, 2025, Unum will cede $3.4 billion of individual long-term care statutory reserves and approximately $120 million of multi-life individual disability insurance in-force premiums to Fortitude Reinsurance Company Ltd., a subsidiary of Fortitude Re. This cession represents 19% of Unum Group's total long-term care block and 20% of its in-force individual disability insurance premium. Despite the transfer, Unum will continue to manage and administer the reinsured policies. Additionally, Fortitude Re has arranged to retrocede the insurance risks to a highly rated global reinsurance partner, retaining only the underlying spread-based risks. 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ID: 20250701030245) on July 01, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4162","symbol_name":"人寿与健康保险","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250701:nNDL56mP4S:1","article_id":"2548882112","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2548882112","pubTimestamp":1751400376,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Unum Group has announced the completion of a significant reinsurance transaction with Fortitude Re, a global reinsurance company. 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