Sidley Advises Fortitude Re in US$3.4 Billion Reinsurance Transaction With Unum

Sidley is representing Fortitude Re in the reinsurance of US$3.4 billion of individual long-term care (LTC) statutory reserves and approximately US$120 million of multi-life individual disability insurance (IDI) in-force premium from publicly traded Unum Group.

At the close of the transaction, Fortitude Re will retrocede the LTC and IDI insurance risks to a highly rated global reinsurance partner.

The Sidley team is led by Jon Kelly (Financial Institutions – Insurance) and includes Paige Levitt, John Grothaus, Alexander Koster, James Gilmartin, Joshua Jorgensen (all Financial Institutions – Insurance), and Peter Edgerton (Tax).