HAMILTON, Bermuda--(BUSINESS WIRE)--Fortitude Reinsurance Company Ltd., (“Fortitude Re”) today announced the signing of a $28 billion reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation (NYSE: LNC) and its affiliates (“Lincoln”).
“This agreement is a great example of how Fortitude Re leverages its strong balance sheet, asset origination capabilities and deep insurance expertise to deliver value-enhancing solutions to our clients.”
Upon receipt of regulatory approvals, Lincoln will reinsure a significant portion of its universal life insurance and fixed annuity business to Fortitude Re. Lincoln will continue to service and administer the reinsured policies.
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