Prudential Financial Completes Guaranteed Universal Life Reinsurance Transaction With Wilton Re and Completes Internal Captive Restructure
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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Source: Business Wire
NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) announced today that it has successfully closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. This transaction, originally announced on Aug. 20, 2024, advances Prudential’s strategic progress to become a higher growth and more capital efficient company. The financial impact of the transaction aligns with the impacts outlined at the time of the announcement.Additionally, Prudential announced today that it has restructured a series of internal captive reinsurance arrangements for a portion of its in-force term life insurance block. As a result of this transaction, Prudential expects to incur one-time pre-tax expenses of approximately $40 million in 4Q 2024 due to extinguishment of certain financing facilities and anticipates an increase in pre-tax annual adjusted operating income of approximately $25 million beginning in 2025.About Prudential FinancialPrudential Fin
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- Prudential Financial Completes Guaranteed Universal Life Reinsurance Transaction With Wilton Re and Completes Internal Captive Restructure [Yahoo! Finance]Yahoo! Finance
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PRU
Earnings
- 10/30/24 - Beat
PRU
Sec Filings
- 12/17/24 - Form 424B2
- 12/16/24 - Form 4
- 12/16/24 - Form 4
- PRU's page on the SEC website