Prudential strikes $1.8bn reinsurance deal with Scottish Widows


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

Intelligent Insurer