Business & Tech
Wilton Re to Pay $45 Million Ceding Commission
The Wilton Reassurance Co., owned by former Board of Finance candidate Chris Stroup, lands a major account.
You win some, you lose some. Just ask Chris Stroup.
The former Board of Finance candidate didn't win a seat in the municipal election earlier this month. But as Chairman and CEO of Wilton Re, he won a huge victory as his company is set to coninsure half of Conseco's 237,000 life insurance policies.
Wilton Re will pay a ceding fee (paid to the primary insurer for compensation for acquiring the business) of $45 million according to a report on prnewswire.com and will assume a 50 percent stake in Conseco's insurance policies.
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Read the full article: Conseco Announces Reinsurance Transaction.
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