Unum Group Finalizes Reinsurance Transaction with Fortitude Re, Ceding $3.4 Billion in Long-Term Care Reserves

Reuters

07-03

<a href="https://laohu8.com/S/UNMA">Unum Group</a> Finalizes Reinsurance Transaction with Fortitude Re, Ceding $3.4 Billion in Long-Term Care Reserves

Unum Group has announced the completion of a significant transaction with Fortitude Reinsurance Company Ltd., as detailed in their Master Transaction Agreement dated February 26, 2025. The transaction, which was effectively closed on July 1, 2025, involves Unum Life Insurance Company of America, a subsidiary of Unum Group, ceding a 100% quota share of a portion of its closed block individual long-term care business and individual disability business to Fortitude Reinsurance. This agreement represents $3.4 billion of long-term care statutory reserves and approximately $120 million of in-force premium from Provident Life and Accident Insurance Company. The Coinsurance Agreement took effect on January 1, 2025.

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 EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000005513-25-000109), on July 02, 2025, and is solely responsible for the information contained therein.

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The transaction, which was effectively closed on July 1, 2025, involves Unum <a href=\"https://laohu8.com/S/LINS\">Life Insurance</a> Company of America, a subsidiary of Unum Group, ceding a 100% quota share of a portion of its closed block individual long-term care business and individual disability business to Fortitude Reinsurance. This agreement represents $3.4 billion of long-term care statutory reserves and approximately $120 million of in-force premium from Provident Life and Accident Insurance Company. The Coinsurance Agreement took effect on January 1, 2025.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>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 EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000005513-25-000109), on July 02, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UNM","symbol_name":"尤納姆集團","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250702:nNDLbjg7hc:1","article_id":"2548810776","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2548810776","pubTimestamp":1751489191,"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 transaction with Fortitude Reinsurance Company Ltd., as detailed in their Master Transaction Agreement dated February 26, 2025. 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