Prudential awarded $9.2 billion international longevity risk transfer mandate by NN Life, expanding Prudential Institutional Retirement Strategies into The Netherlands
19 Dezembro 2023 - 6:30PM
Business Wire
Prudential Financial, Inc. (NYSE: PRU) today announced that its
subsidiary entered into a $9.2 billion1 longevity risk transfer
agreement with NN Life, a subsidiary of NN Group. The transaction
reinsures a block of more than 200,000 policies with The Prudential
Insurance Company of America (Prudential), effective Dec. 31,
2023.
The deal marks Prudential’s first international longevity
reinsurance transaction in the Dutch market and directly aligns to
the company’s growth strategy.
“Prudential is proud to support NN Life through this
transaction, and we are excited to expand the presence of our
Institutional Retirement Strategies business into The Netherlands,”
said Charles Lowrey, chairman and CEO, Prudential Financial, Inc.
“This longevity risk transfer further demonstrates our vision to be
a global leader in expanding access to investing, insurance, and
retirement security.”
Commenting on the growing market demand for longevity risk
management, Alexandra Hyten, head of Institutional Retirement
Strategies, Prudential, added: “With the recently passed Dutch
pension reform legislation, we anticipate the market for risk
transfer to continue to grow. We are well-positioned to assist
insurers and plan trustees in meeting their de-risking objectives
by offering customized reinsurance solutions.”
1 Transaction Euro/USD Fx Rate of 1.0915 is as of EOD 12/18.
About Prudential
Prudential Financial, Inc. (NYSE: PRU), a global financial
services leader and premier active global investment manager with
approximately $1.4 trillion in assets under management as of Sept.
30, 2023, has operations in the United States, Asia, Europe, and
Latin America. Prudential’s diverse and talented employees help
make lives better and create financial opportunity for more people
by expanding access to investing, insurance, and retirement
security. Prudential’s iconic Rock symbol has stood for strength,
stability, expertise, and innovation for nearly 150 years. For more
information, please visit news.prudential.com.
With nearly 100 years of retirement experience, the Retirement
Strategies team at Prudential delivers industry-leading solutions
for growth and protection to more than 2 million individual and
institutional customers. The business expands access to retirement
security through its Individual Retirement protected accumulation
and income strategies and its Institutional Retirement lines of
business spanning U.S. Pension Risk Transfer, International
Reinsurance, Stable Value, and Structured Settlements.
© 2023 Prudential Financial, Inc. and its related entities.
Prudential, Prudential Retirement Strategies, the Prudential logo,
the Rock symbol and Rock Solid are service marks of PFI and its
related entities, registered in many jurisdictions worldwide.
Insurance and reinsurance products are issued by The Prudential
Insurance Company of America (PICA), Newark, New Jersey. PICA is a
Prudential Financial company. PICA is solely responsible for its
financial condition and contractual obligations. Prudential of the
United States is not affiliated in any manner with Prudential plc,
incorporated in the United Kingdom, or with Prudential Assurance
Company, a subsidiary of M&G plc, incorporated in the United
Kingdom. Prudential’s insurance subsidiary issues reinsurance from
the U.S. and is not a U.K. or EU authorized insurer and does not
conduct business in the United Kingdom or the EEA or provide direct
insurance to any individual or entity therein.
1076415-00001-00
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231219469221/en/
Media contacts for Prudential: United States
Marisa Amador +1 (973) 802-8969 marisa.amador@prudential.com
Europe Josh Sarson +44 (0)755 499 1072
josh.sarson@fticonsulting.com
Prudential Financial (NYSE:PRU)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Prudential Financial (NYSE:PRU)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024