PartnerRe strikes £725m reinsurance deal with PIC
Latest Prudential-Legal & General longevity deal marks a resurgent sector
The Prudential Insurance Company of America (PICA) and UK-based Scottish Widows have agreed to their first-ever longevity reinsurance agreement. PICA has assumed the longevity risk for approximately $1.8 billion (£1.3 billion) of annuity liabilities held by Scottish Widows.
Prudential Insurance Company of America, Scottish Widows, UK, Reinsurance, PICA, Longevity risk