November 21, 2023 – Hamilton, Bermuda – Fortitude Reinsurance Company Ltd., (“Fortitude Re”) today announced the closing of its $28 billion reinsurance agreement with The Lincoln National Life Insurance Company, a subsidiary of Lincoln National Corporation (NYSE:LNC) and its affiliates (“Lincoln”).
Consistent with the agreement announced May 2, 2023, Lincoln will reinsure a significant portion of its universal life insurance and fixed annuity business to Fortitude Re. To ensure a consistent experience for customers, Lincoln will continue to service and administer the reinsured policies.
Debevoise & Plimpton LLP served as legal counsel to Fortitude Re.
