Imagine International Reinsurance Ltd. is offering to reinsure new long term care insurance business written by Penn Treaty American Corp. through a 75% quota share arrangement, Penn Treaty says.[@@]
Imagine, Dublin, agreed in July to reinsure Penn Treaty's in-force LTC business.
Imagine must evaluate the new deal and Penn Treaty thoroughly and get the approval of its underwriting committee before it can put the quota share arrangement into effect, Penn Treaty says.
Penn Treaty is not yet disclosing the price it plans to pay for the new arrangement.
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