Rothesay Life, the wholly owned Goldman Sachs insurance subsidiary, has successfully reinsured £100 million-worth of longevity exposure to US-based firm Prudential Retirement.
The deal by Prudential Retirement – a business unit of Prudential Financial, no relation to the similarly titled UK insurer – marks its first longevity transaction, bringing another player to the market. Additional reinsurance capacity will be welcomed given that corporate pension funds in the UK plan to offload about £20
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