Prudential Financial, Inc. (PFI) has entered into a €4 billion longevity risk transfer agreement between primary US insurance subsidiary and NN Life & Pensions, a Dutch subsidiary of NN Group, providing life insurance and pension solutions.
The reinsurance deal, effective from July 1, 2025, covers about 96,000 policyholders.
This marks the second international longevity reinsurance transaction between PFI and NN Life & Pensions, reinforcing the firm’s growing footprint in the Dutch market. The agreement was executed through PFI’s primary US insurance subsidiary.
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“PFI is pleased to again collaborate with NN Life & Pensions, as we build the scale of our Institutional Retirement Strategies work in the Netherlands,” said Dylan Tyson, president of retirement strategies and head of the company’s Global Retirement Center of Excellence. “This longevity risk transfer further demonstrates our commitment to the global retirement marketplace, as we seek to help millions more people protect their life’s work.”
Rohit Mathur, head of International Reinsurance at PFI Retirement Strategies, added: “The strong relationship we’ve fostered with NN Life & Pensions since the first transaction in 2023 led to a smooth and efficient close. Our ability to deliver customised reinsurance solutions further solidifies us as a global leader in assisting insurers and plan trustees. We continue to anticipate increased activity and demand in the Dutch market and are excited by the opportunities for PFI to help those seeking to manage longevity risk as part of their strategic objectives.”
