Legal & General (L&G) has reinsured the longevity risk relating to £1.35bn of bulk annuity contracts with Prudential Retirement Insurance and Annuity Company (PRIAC).
L&G holds £24.6bn in bulk annuity assets as of June 30 2014 and has completed £3.1bn in new transactions in the half year to June 30 2014. The transaction will pass on the longevity risk associa...
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