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Prudential Financial, Inc.: Prudential, Zurich close significant £6 billion longevity reinsurance transaction Deal structure demonstrates new options, flexibility for clients Prudential Retirement s International Reinsurance business has closed its first reinsurance transaction involving an unnamed U.K. pension scheme using an independent U.K.-regulated insurer, Zurich Assurance Ltd., as intermediary. The transaction, which closed in March of 2021 and transfers longevity risk associated with £6 billion ($8.4 billion) of pensioner liabilities, is Prudential s third largest U.K. longevity risk transfer transaction to date. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU). This significant transaction uses a limited recourse or pass-through structure, meaning the longevity and default risks are able to be passed through the insurer. It was the first transaction involving this type of structure entered into by Prudential Retirement and ....