Prudential, L&G Reach $800 Million Longevity Reinsurance Agreement

Prudential and Legal & General concluded their sixth longevity reinsurance agreement since 2014. As part of the transaction, the Prudential Retirement Insurance and Annuity Company (PRIAC) assumes longevity risk for $800 million (about £600 million) in pension liabilities, which are held by L&G as part of its bulk annuity business. The transaction covers more than 2,000 pensioners.

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