Fortitude Re closes $28bn reinsurance deal
Created: Nov 21, 2023 04:57 PM (Updated: Nov 21, 2023 09:48 PM)
Alon Neches, chief executive officer, Fortitude Re (File photograph)
Bermudian-based Fortitude Reinsurance Company Ltd has closed its $28 billion reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation and its affiliates.
Consistent with the agreement announced in May, Lincoln will reinsure a significant portion of its universal life insurance and fixed annuity business to Fortitude Re.
To ensure a consistent experience for customers, Fortitude Re said Lincoln would continue to service and administer the reinsured policies.
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Published November 21, 2023 at 4:57 pm (Updated November 21, 2023 at 9:48 pm)
Fortitude Re closes $28bn reinsurance deal
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