The retirement services arm of Prudential Financial Inc. is providing longevity risk reinsurance for a unit of the Goldman Sachs Group Inc.
Prudential Retirement Insurance and Annuity Company, Hartford, is reinsuring the equivalent of about $160 million in pension account value for Rothesay Life Ltd., London.
Goldman Sachs, New York, is using Rothesay Life as a vehicle for helping employers in the United Kingdom transfer pension risk.
In July 2010, Rothesay Life reinsured a block of pension risk business with a unit of PacificLife Corp., Newport Beach, Calif.