Prudential Retirement, a unit of Prudential Financial Inc. (NYSE:PRU) has extended its partnership with U.K.-based Rothesay Life, a wholly-owned subsidiary of The Goldman Sachs Group Inc. (NYSE:GS), as a reinsurance partner for its pension-related longevity risk. The agreement is the first reinsurance transaction for Prudential in 2012.
The transaction is intended to cover pension liability values worth approximately $665 million. The reinsurance contracts secure the retirement benefits of Uniq Plc … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards