Prudential Sheds $11B in Universal Life Guarantee Exposure
December 26, 2024 by Allison Bell
Prudential Financial has closed on a deal passing immediate responsibility for about $11 billion in guaranteed universal life exposure to Wilton Re through a reinsurance agreement.
The deal, which was announced in August, helped Prudential shed more than one-quarter of the $38 billion of guaranteed universal life exposure it started with in July 2023, when it announced a reinsurance deal with another reinsurer, Somerset Re, for $12.5 billion in guaranteed universal life reserves. The company now has about $16 billion in exposure to universal life guarantees.
Originally Posted at Think Advisor on December 23, 2024 by Allison Bell.
Categories: Industry Articles
