PICA launches reinsurance counterparty to back UK bulk annuities

Holly Roach
Holly Roach
clock 05 August 2019 •
PICA launches reinsurance counterparty to back UK bulk annuities

Prudential Insurance Company of America (PICA) has launched a reinsurance counterparty, lending support to insurers that account for more than 90% of the UK pension risk transfer market.

A subsidiary of American financial services firm Prudential Financial, which has more than $1trn in assets under management (AuM), the insurer has partnered with Phoenix Group to provide a longevity reinsurance...

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