September 27, 2018
(Norwalk, CT) Today, Mike Fleitz, Chief Executive Officer of Wilton Reassurance Company, confirmed the successful completion of a transaction to reinsure legacy comprehensive and nursing home long-term care insurance policies (“LTC”) from Bankers Life and Casualty Company (“Bankers Life”), a subsidiary of CNO Financial Group, Inc. (“CNO”). In total, Wilton Re has assumed $2.7 billion of LTC statutory reserves through administrative reinsurance agreements with CNO. CNO has paid a ceding commission of $825 million to reinsure the business. Wilton Re will assume administration for the business after a transition period.
About Wilton Re
Wilton Re is a leading provider of In Force Solutions. Focusing on the North American life insurance market, the Company provides risk capital and related services including M&A. Our administrative capabilities provide the industry with efficient and effective runoff management of legacy blocks of life insurance and annuity contracts.
Wilton Re is committed to creating solutions that enhance value for our clients, their policyholders and shareholders. Our approach is centered on building lasting relationships with our business partners and sharing resources, industry knowledge and experience in an open, transparent manner.
About CNO Financial Group
CNO Financial Group, Inc. is a holding company. The company’s insurance companies – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement.
For more information, visit CNO online at CNOinc.com