Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Disability Insurer Completes Block Recapture

Your article was successfully shared with the contacts you provided.

UnumProvident Corp. has completed previously announced plans to recapture a surplus relief reinsurance arrangement for a closed block of individual disability insurance business from Centre Life Reinsurance Ltd.[@@]

UnumProvident, Chattanooga, Tenn., ceded the business to Centre Re, Hamilton, Bermuda, in 1996.

UnumProvident has continued to handle claims and administration for the block, and taking full responsibility for block claims back from Centre Re will add $185 million in annual premiums and $1.6 billion in assets and reserves, UnumProvident says.

The closed block recapture took effect Aug. 8.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.