Prudential finalises life block reinsurance deal with Wilton Re [Yahoo! Finance]
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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Source: Yahoo! Finance
The move is part of Prudential's efforts to transform into a capital-efficient and growth-oriented entity. This deal was announced in August this year. The policies, issued by Pruco Life Insurance Company Arizona and Pruco Life Insurance Company of New Jersey, represent roughly 40% of Prudential's remaining guaranteed universal life reserves. Prudential has assured that the terms of the policyholders' contracts will remain unchanged, with the company continuing to oversee policy management. It also stated that the transaction is unlikely to affect its workforce size. Prudential has now cut its exposure to guaranteed universal life insurance by nearly 60%. Wells Fargo was the financial advisor to Prudential for the deal, while Debevoise & Plimpton offered legal advice. Wilton Re secured legal advice from Kirkland & Ellis. Prudential has also restructured a series of internal captive reinsurance arrangements for a portion of its in-force term life insurance block. Pru
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- Prudential Financial announces ~$40M expense in Q4 [Seeking Alpha]Seeking Alpha
- Prudential Financial Completes Guaranteed Universal Life Reinsurance Transaction With Wilton Re and Completes Internal Captive Restructure [Yahoo! Finance]Yahoo! Finance
- Prudential Financial Completes Guaranteed Universal Life Reinsurance Transaction With Wilton Re and Completes Internal Captive RestructureBusiness Wire
- Prudential collaborates with Empathy to enhance workplace benefits with holistic bereavement support for families coping with loss [Yahoo! Finance]Yahoo! Finance
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