Legal and General (L&G) has reinsured longevity risk relating to $2.9bn (£1.9bn) of pension liabilities in its bulk annuity business through Prudential Retirement Insurance and Annuity Company.
It is the reinsurer's second longevity hedging transaction with L&G after completing a deal covering £1.35bn of liabilities last October. Prudential's longevity reinsurance vice president Bill M...
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