Prudential Financial completes $1.1 billion longevity deal for UK's PIC

June 10, 2016 9:02 AM

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LONDON A subsidiary of Prudential Financial has completed a $1.1 billion longevity reinsurance deal for British speciality insurer Pension Insurance Corporation, the U.S insurer said on Friday.

The deal covers longevity risk related to around 2,900 pensioners across parts of insurance broker Aon Retirement Scheme, the firm said in a statement.

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