Prudential and NN Life & Pensions sign $4 billion longevity deal

Prudential Financial announced that its subsidiary entered into a $4 billion longevity risk transfer agreement with NN Life & Pensions, a subsidiary of NN. The reinsurance agreement covers approximately 96,000 policyholders with The Prudential Insurance Company of America, effective as of July 1, 2025.

The deal marks Prudential’s second international longevity reinsurance transaction with NN Life & Pensions, and continued expansion within the Dutch market.

“Prudential is pleased to again collaborate with NN Life & Pensions, as we build the scale of our Institutional Retirement Strategies work in the Netherlands. This longevity risk transfer further demonstrates our commitment to the global retirement marketplace, as we seek to help millions more people protect their life’s work.” – Dylan Tyson, president of Retirement Strategies and head of the company’s Global Retirement Center of Excellence.

“The strong relationship we’ve fostered with NN Life & Pensions since the first transaction in 2023 led to a smooth and efficient close. Our ability to deliver customized reinsurance solutions further solidifies us as a global leader in assisting insurers and plan trustees. We continue to anticipate increased activity and demand in the Dutch market and are excited by the opportunities for Prudential to help those seeking to manage longevity risk as part of their strategic objectives.” – Rohit Mathur, head of International Reinsurance at Prudential Retirement Strategies.