Unum Group Closes $3.8 Billion Long-Term Care Reinsurance Transaction with Fortitude Re

CHATTANOOGA, Tenn.--(BUSINESS WIRE)--Unum Group (NYSE: UNM) announced today that its Unum Life Insurance Company of America subsidiary (Unum America) closed its previously announced reinsurance transaction with Fortitude Reinsurance Company Ltd. (Fortitude Re). As a part of the transaction, Fortitude Re will retrocede biometric risk to a highly rated global reinsurer. Unum will continue to provide service and administration for the reinsured business. The reinsured block consists of approximate