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Unum Group Partners with Fortitude Re for $3.4 Billion Long-Term Care Reinsurance Transaction

Feb 27, 2025•over 1 year ago

Contract Type

agreement

ChattanoogaHealth CareEmployee BenefitsInsurance

Description

Unum Group has announced an agreement to cede individual LTC insurance policies and IDI policies to Fortitude Reinsurance Company Ltd. The transaction is expected to generate an estimated $100 million capital benefit and is consistent with Unum's strategy of reducing exposure to the legacy long-term care business.

Company Information

Company

Unum Group

Location

Chattanooga, Tennessee, United States

About

Unum is a leading provider of employee benefits, recognized for its innovation, integrity, and steadfast commitment to customers since its founding in 1848. With deep roots in the insurance industry, Unum has grown into a global leader in financial protection, offering a comprehensive suite of benefits including disability, life, accident, critical illness, dental, vision, and stop-loss insurance, as well as leave management and behavioral health services to support the evolving needs of today’s workforce.

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