“LTCG to Provide Administration to Wilton Re in Support of Its Transformative Reinsurance Transaction with CNO Financial,” by Business Wire, Yahoo Finance
“LTCG has entered into a strategic contract to support Wilton Re in the administration of long-term care insurance (LTCi). On August 1, CNO Financial Group announced that its wholly-owned subsidiary, Bankers Life and Casualty Company, signed a long-term care insurance indemnity reinsurance agreement with Wilton Re. This agreement covers nursing home and comprehensive LTCi forms sold prior to 2003. The transaction is anticipated to close no later than the end of 2018. Wilton Re has selected LTCG to administer these 70,000 policies and approximately 8,000 active claims.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
LTCG president and CEO Peter Goldstein stated that “The selection of LTCG by Wilton Re validates our strategy to invest in claims management. I think there will be other reinsurance deals like this coming down the pike so stay tuned.” Congratulations to Center-corporate-member LTCG and Mr. Goldstein. We’ll report future deals of this kind as they occur.
#reinsurance
#goldencareagent
