Prudential reinsures $1.2bn of PIC's longevity risk

Victoria Tichá
clock • 1 min read

Prudential Insurance Company of America (PICA) has agreed to reinsure around $1.2bn (£900m) of Pension Insurance Corporation's (PIC) longevity risk.

The deal covers around 7,500 pensioners across two schemes, and is the two companies' sixth transaction together since their partnership began in 2015. The transaction is PICA's first major long...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Risk Reduction

Phoenix Medical Supplies scheme secures £30m buy-in with Canada Life

Phoenix Medical Supplies scheme secures £30m buy-in with Canada Life

Full scheme buy-in secures the benefits of over 145 pensioners and 80 deferred members

Holly Roach
clock 23 March 2026 • 2 min read
Exclusive: M&G says BPA with-profits proposition to be 'core' market offering

Exclusive: M&G says BPA with-profits proposition to be 'core' market offering

Kerrigan Procter says insurer expects to transact £3bn-£4bn of BPA volumes by 2027

Martin Richmond
clock 23 March 2026 • 2 min read
Hille Ergonom Pension Scheme completes £4m buyout with Aviva

Hille Ergonom Pension Scheme completes £4m buyout with Aviva

The deal secures the benefits of 74 members who also benefitted from surplus assets

Holly Roach
clock 18 March 2026 • 2 min read
Trustpilot