Wilton Re has selected long-term care specialist, LTCG, to administer the 70,000 policies and approximated 8,000 active claims included in its August 1 long-term care insurance indemnity reinsurance agreement with CNO Financial Group subsidiary, Bankers Life and Casualty Company.
LTCG will offer a complete processing solution which includes policy administration, care management, claims payments, benefit eligibility assessments, actuarial analysis, and financial reporting.
“We are very excited to join Wilton Re as strategic partners in this significant opportunity,” said Peter Goldstein, Chief Executive Officer (CEO) of LTCG.
“We think the combination of Wilton Re’s risk transfer solution paired with our administrative and claims capabilities is exactly what the market is looking for,” he added.
The transaction is anticipated to close no later than the end of 2018. After closing, CNO Financial will continue to provide administration services for these policies on behalf of Wilton Re during the transition to the LTCG platform.
