Unum closes $3.8 billion long-term care reinsurance deal with Fortitude Re
UNM•Unum Group closed a long-term care reinsurance transaction with Fortitude Re covering $3.8 billion in statutory reserves. The deal covers about 50,000 individual policies with $4.5 billion in best estimate reserves and, together with a 2025 transaction, reduces Unum’s closed-block footprint by more than $7 billion in long-term care statutory reserves.
1. Deal closes
Unum Group closed a long-term care reinsurance transaction with Fortitude Re covering $3.8 billion in statutory reserves. The reinsured block comprises approximately 50,000 individual policies with about $4.5 billion in best estimate reserves.
2. Remaining policies
Together with a 2025 transaction, the deal reduces Unum’s closed-block footprint by more than $7 billion in long-term care statutory reserves. The remaining long-term care block is predominantly group policies, supported by robust reserve margins, and Unum will continue servicing and administering the reinsured business.
