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Lincoln Financial closes $6.3bn reinsurance deal with Talcott

The transaction becomes effective October 1, 2026, and brings the share of Lincoln’s GUL block reinsured to about 60% when combined with its Fortitude Re deal.

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Lincoln Financial has closed its previously announced $6.3 billion reinsurance transaction with Talcott Financial Group, effective October 1, 2026, according to Reinsurance News.

Lincoln said the $6.3 billion total includes reinsurance by a Talcott subsidiary of about $5.8 billion of in-force guaranteed universal life, or GUL, statutory reserves, representing approximately 37% of Lincoln’s remaining in-force GUL block.

Reinsurance News also noted that, together with Lincoln’s 2023 reinsurance transaction with Fortitude Re, about 60% of Lincoln’s total GUL block is now reinsured, which reduces exposure to a legacy, capital-intensive block of business.

When the deal was originally announced, Lincoln CEO Ellen Cooper said it would further reshape Lincoln’s liability mix and enhance free cash flow, Reinsurance News reported.

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