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

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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.

About Fortitude Re

The Fortitude Re Group manages approximately $101 billion in general and separate account insurance reserves and administers over 4 million insurance policies. The foundations of our business model are our exceptional insurance professionals and the support of the world’s most sophisticated insurance investors, including Carlyle and T&D Insurance Group. Our people, our capital strength and our capabilities drive strategic reinsurance solutions designed to meet our clients’ highest priority goals and to create sustainable, long-term value for our shareholders, our teammates, and the communities in which we operate. For more information visit, www.fortitude-re.com and follow Fortitude Re on LinkedIn.