Prudential Financial Strengthens Dutch Presence with €4 Billion Longevity Risk Transfer Agreement
Prudential Financial and NN Life & Pensions ink a €4 billion retirement lifespan agreement
Prudential Financial (PFI) has announced a significant new agreement with NN Life & Pensions, a Dutch subsidiary of NN Group. The deal, worth €4 billion, is the second major international longevity reinsurance transaction between the two companies and further expands PFI's footprint in the Dutch market.
The agreement, which became effective on July 1, 2025, covers approximately 96,000 policyholders. Rohit Mathur, head of International Reinsurance at PFI Retirement Strategies, stated that the strong relationship with NN Life & Pensions led to a smooth and efficient close. He further added that PFI's ability to deliver customized reinsurance solutions solidifies them as a global leader in assisting insurers and plan trustees.
Dylan Tyson, president of retirement strategies and head of PFI's Global Retirement Center of Excellence, expressed pleasure in collaborating with NN Life & Pensions again. The collaboration between PFI and NN Life & Pensions is aimed at building the scale of PFI's Institutional Retirement Strategies work in the Netherlands.
Mathur anticipates increased activity and demand in the Dutch market and is excited by the opportunities for PFI to help those seeking to manage longevity risk as part of their strategic objectives. He believes that this deal is a testament to PFI's commitment to the global retirement marketplace.
The transaction involves PFI transferring longevity risk to NN Life & Pensions. The longevity risk transfer further demonstrates PFI's commitment to the global retirement marketplace and reinforces its growing footprint in the Dutch market.
The agreement was executed through PFI's primary US insurance subsidiary. This deal follows a notable transaction at the end of 2023, where Prudential reinsured more than 200,000 policies valued at approximately $9.2 billion[2][3].
The impact on NN Life & Pensions has been positive, enhancing its capital position and solvency ratio. The latest agreement contributed to an increase in the NN Life Solvency II ratio and further strengthened the group's capital position[3].
These partnerships highlight the growing importance of longevity risk management in the insurance sector, particularly in Europe, and underscore Prudential Financial's strategic expansion in the Dutch market through its collaboration with NN Life & Pensions. With this deal, PFI seeks to help millions more people protect their life's work.
[1] Prudential Financial, Inc. (2025). Press Release: Prudential Financial Completes €4 Billion Longevity Risk Transfer Agreement with NN Life & Pensions. [Online]. Available: https://www.prudential.com/news/press-releases/prudential-financial-completes-4-billion-longevity-risk-transfer-agreement-with-nn-life-pensions.html
[2] Prudential Financial, Inc. (2024). Press Release: Prudential Financial Completes $9.2 Billion Longevity Risk Transfer Agreement with NN Life & Pensions. [Online]. Available: https://www.prudential.com/news/press-releases/prudential-financial-completes-9-2-billion-longevity-risk-transfer-agreement-with-nn-life-pensions.html
[3] NN Group (2025). Press Release: NN Group Announces €4 Billion Longevity Risk Transfer Agreement with Prudential Financial. [Online]. Available: https://www.nn-group.com/en/media/press-releases/nn-group-announces-4-billion-longevity-risk-transfer-agreement-with-prudential-financial.html
- This significant €4 billion agreement between Prudential Financial and NN Life & Pensions, focused on longevity risk transfer, further emphasizes their commitment to the global finance sector and strengthens PFI's presence in the Dutch market.
- The collaboration between Prudential Financial and NN Life & Pensions is expected to increase activity in the Dutch market, as Mathur anticipates a rise in demand for managing longevity risk and reinforces PFI's position as a global leader in the retirement marketplace.
