“HC2 Completes One LTCI Deal, Seeks More: Have an unwanted LTCI block, and some cash? Philip Falcone’s company might be interested,” by Allison Bell, ThinkAdvisor
“Continental General Insurance Company, a subsidiary of HC2 Holdings Inc., today completed a major long-term care insurance (LTCI) deal with Humana Inc. — and Continental managers are out looking for more LTCI risk transfer deals. Continental General paid $10,000 in cash to Humana Inc., for the shares of KMG America Corp., the parent company of Kanawha Insurance Company. In exchange, Continental General received Kanawha’s assets, $195 million in extra cash from Humana, and responsibility for about 29,300 LTCI policies written by Kanawha.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Any more takers?
#ltci
#goldencareagent
