Fortitude Re, Lincoln Financial close $28bn reinsurance deal

Bermuda-based multi-line reinsurer  Fortitude Re has completed a $28 billion reinsurance agreement with the Lincoln National Life Insurance Company.

Lincoln National Life Insurance Company is a subsidiary of Lincoln National Corporation and its affiliates.

Under the agreement, Lincoln reinsured a significant portion of its universal life insurance and fixed annuity business to Fortitude Re.

Lincoln said it will continue to service and administer the reinsured policies.

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