Prudential agrees £3.7bn longevity swap with Pacific Life

James Phillips
clock • 2 min read

The Prudential Staff Pension Scheme has entered into a £3.7bn longevity swap with Pacific Life Re, insuring the longevity risk of over 20,000 pensioners.

The transaction was agreed following a competitive process including multiple bidding insurers, and utilises a Guernsey-based captive insurer, owned by the trustees, to access the reinsurance marke...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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