Unum agrees to reinsure $3.4 billion of long-term care reserves to Fortitude Re
Unum's Unum Life Insurance Company of America subsidiary agreed on February 26, 2025 to cede $3.4 billion of long-term care statutory reserves and a 100% quota share of certain Provident Life and Accident individual disability business to Fortitude Reinsurance Company Ltd. The company expects an overall capital benefit, offset in part by a pre-tax ceding commission of approximately $430 million, and closing is expected during 2025. The filing also cites a revised 2025 EPS growth outlook of 6-10%, while the company's presentation says it expects a capital benefit of about $100 million from the transaction.
Key points
- Reinsures $3.4 billion of long-term care statutory reserves, 19% of total LTC statutory reserves
- Pre-tax ceding commission of approximately $430 million paid as consideration for the reinsurance
- Estimated capital benefit of about $100 million per the news release
- Closing expected during 2025, subject to regulatory approvals; agreement may be terminated if not closed within six months
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:12 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 27, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.