Labor Department Backs Deutsche Bank to Fund Long-Term Disability

The Labor Department has given tentative authorization to Deutsche Bank to use its Vermont captive to reinsure long-term disability benefits.

Under the arrangement, New York-based Deutsche Bank Americas Holding Corp. would use its captive, MHL Reinsurance Ltd., to reinsure 100 percent of the Long-term disability risk with a unit of Unum Group.

The tentative authorization granted last week comes after the Labor Department’s proposed approval last month of an application by Basking Ridge, New Jersey-based Verizon Communications Inc. to use its Vermont captive to reinsure group term life insurance written by Prudential Life Insurance Co.

The Labor Department is expected to give final approval to the Verizon arrangement next month.

If you need assistance securing Indiana Long-Term Disability Attorney of the Hankey Law Office, by calling 800-260-3633.