M&A - Unum Group
Form Type: 8-K
Filing Date: 2025-07-02
Corporate Action: Acquisition
Type: New
Accession Number: 000000551325000109
Filing Summary: On July 1, 2025, Unum Group announced the closing of the transactions related to the Master Transaction Agreement established on February 26, 2025. This agreement involved Unum Life Insurance Company of America, a wholly-owned subsidiary of Unum Group, and Fortitude Reinsurance Company Ltd. The transaction involved a coinsurance arrangement where Unum ceded a 100% quota share of various long-term care and disability insurance businesses, including $3.4 billion of long-term care statutory reserves and approximately $120 million of in-force premium from Provident Life and Accident Insurance Company.
Additional details:
Entry Into Material Agreement Date: 2025-07-01
Master Transaction Agreement Date: 2025-02-26
Coinsurance Agreement Effective Date: 2025-01-01
Long Term Care Business Value: 3.4 billion
Individual Disability Business Value: 120 million
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