Fortitude Re Announces $28 Billion Life & Annuity Reinsurance Agreement with Lincoln Financial Group

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.