Unum Life Insurance Company of America entered into a Master Transaction Agreement with Fortitude Reinsurance Company Ltd. to reinsure a portion of its closed block individual long-term care business. The transaction involves the transfer of approximately $5.7 billion in assets and cash to the Reinsurer, and includes an experience volatility cover provided by Provident Life and Accident Insurance Company with a cap of $125 million. Unum expects to generate capital and tax benefits from this reinsurance arrangement. Unum Group is an insurance company providing life, life, and disability insurance products.