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Pension reinsurance market growing at fastest pace in years: Prudential’s Kessler

27th December 2018

The pension de-risking market is growing at its fastest pace in years, in part because such activity has become more affordable than at any point in the last decade, according to the Head of Longevity Risk Transfer at Prudential Financial Amy Kessler. Providing an outlook for the longevity reinsurance market over ... Read the full article

Prudential takes on $1.6bn in pension liabilities from International Paper

2nd October 2018

The Prudential Insurance Company, a subsidiary of Prudential Financial is to assume responsibility for paying pension benefits to ~23,000 of International Paper’s retirees, following an agreed transfer of $1.6 billion in pension liabilities. The agreement is the second pension risk transfer between the two companies in just over a year. Last ... Read the full article

Ping An considers acquisition of Prudential’s Asia business

14th August 2018

Ping An Insurance, China’s largest insurer by market value, is considering an acquisition of Prudential Plc’s Asia business, according to sources at Bloomberg. The move would allow Ping An to expand into new insurance markets from Singapore to Indonesia, and would bring it into competition with international companies such as AIA ... Read the full article

Prudential takes on $1.4bn of pension longevity risk from Aviva

8th August 2018

Prudential Retirement, part of Prudential Financial, has reinsured longevity risk for approximately £1 billion (nearly $1.4 billion) in pension liabilities from Aviva Life and Pensions, the first such transaction between the two companies. The deal comes amid a rising appetite for de-risking in the U.K as attractive pricing and enhanced capacity ... Read the full article

Prudential develops digital claims solutions for hospitals

28th June 2018

Prudential Hong Kong Limited has developed two new digital solutions to streamline the way consumers and medical professionals manage hospital claims in Hong Kong. Its new ‘Hospital to Prudential’ portal is designed to provide a simple, paperless hospital claims process for both customers and operators, while its Chatbot Claims platform aims ... Read the full article

Prudential & PIC in sixth longevity reinsurance transaction

9th May 2018

As demand for pension de-risking continues to surge, Prudential Retirement, a division of Prudential Financial, Inc., has entered into its sixth longevity reinsurance agreement with Pension Insurance Corporation plc (PIC). The latest deal between the pair sees the Prudential Insurance Company of America (PICA) assume the longevity risk for £900 million ... Read the full article

Prudential collaborates with PIC to de-risk small pensions

4th April 2018

Prudential Retirement, a unit of Prudential Finance, Inc., and Pension Insurance Corporation (PIC) have collaborated on a new approach to expedite longevity reinsurance transactions on smaller pension buy-ins and buy-outs. The partnership will allow PIC to more efficiently address the risk transfer needs of small pensions by combining an advance commitment ... Read the full article

Prudential Corporation Asia hires new Chief Operating Officer

13th March 2018

Prudential Corporation Asia (PCA), the Hong Kong-based life insurance business unit of Prudential plc, has announced the appointment of Robin Spencer as Chief Operating Officer. In his new role as a member of the PCA Executive Team, Spencer will be responsible for supporting an efficient operating model for the company, optimising ... Read the full article

Michael Abramson named Partner & Risk Transfer Specialist, Hymans Robertson

14th February 2018

Michael Abramson has joined Hymans Robertson from Prudential as a Partner and Risk Transfer Specialist, based in the firm's London office. Most recently he was Prudential's Director of Wholesale Transactions, and brings roughly 15 years of industry experience to his new role. While at Prudential he was responsible for the firm's ... Read the full article

Prudential & Legal & General conclude $800m longevity reinsurance deal

21st December 2017

The Prudential Retirement Insurance and Annuity Company (PRIAC), a Prudential Financial unit, has concluded a reinsurance agreement which will see it assume longevity risk for about $800 million in pension liabilities, which are held by Legal & General as part of its bulk annuity business. This transaction covers more than 2,000 ... Read the full article

International Paper transfers $1.3bn in pension obligations to Prudential

5th October 2017

A new pension risk transfer agreement has been reached between International Paper and The Prudential Insurance Company of America, which sees the former purchase a group annuity contract to settle roughly $1.3 billion of its pension obligations. Under the agreement, Prudential is transferred the pension obligations of approximately 45,000 of International ... Read the full article

Finance executives highlight pension risk transfer drivers

29th August 2017

Increasing premiums to the Pension Benefit Guaranty Corp. (PBGC), combined with asset-related volatility and increasing life expectancies are amongst the top reasons finance executives transfer pension exposure to an insurer, according to a new survey by CFO Research and Prudential Financial, Inc. A new survey including the responses of 80 senior finance executives at ... Read the full article

Higher U.S. interest rates promote pension-risk transfer

15th March 2017

Higher interest rates could incentivise the growth of U.S. pension-risk transfer business as rate changes make it less expensive for employers to transfer pension obligations, providing a further catalyst in what's become a thriving cross-Atlantic longevity risk transfer business. Chief Investment Officer of United Technologies Corp, Robin Diamonte, told the Wall Street ... Read the full article

Prudential & Rothesay Life in $1.2bn longevity reinsurance deal

10th March 2017

Prudential Financial has completed its sixth major longevity reinsurance transaction with Rothesay Life since 2011, announcing a $1.2 billion (£960 million) deal covering the liabilities associated with 22,500 pensioners, from eight pension plans. The latest longevity reinsurance transaction between the pair sees Prudential Retirement, a unit of Prudential Financial, assume the ... Read the full article

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