Prudential awarded $4 billion international longevity risk transfer mandate by NN Life & Pensions, deepening Prudential’s Institutional Retirement Strategies expansion in the[...]

NEWARK, N.J., Aug. 8, 2025 - Prudential Financial, Inc. (NYSE: PRU) today announced that its subsidiary entered into a $4 billion* longevity risk transfer agreement with NN Life & Pensions, a subsidiary of NN Group. The reinsurance agreement covers approximately 96,000 policyholders with The Prudential Insurance Company of America (Prudential), 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," said Dylan Tyson, president of Retirement Strategies and head of the company's Global Retirement Center of Excellence. "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."

Rohit Mathur, head of International Reinsurance at Prudential Retirement Strategies, added: "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."

*Transaction Euro/USD FX Rate of 1.1348 is as of EOD May 31, 2025.

About Prudential
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of June 30, 2025, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for 150 years. For more information please visit news.prudential.com.

The Retirement Strategies business expands access to retirement security by providing more than $15 billion of protected income payments each year to over 3 million individual and institutional customers and pension obligation participants. The team provides industry-leading solutions for growth and protection through relationships with more than 100,000 retail financial professionals and 7,500 institutional clients across five lines of business: Individual Retirement Strategies, Institutional Stable Value, U.S. Pension Risk Transfer, International Reinsurance, and Structured Settlements.

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Insurance and reinsurance products are issued by The Prudential Insurance Company of America (PICA), Newark, New Jersey. PICA is a Prudential Financial company. PICA is solely responsible for its financial condition and contractual obligations. Prudential of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Prudential's insurance subsidiary issues reinsurance from the U.S. and is not a U.K. or EU authorized insurer and does not conduct business in the United Kingdom or the EEA or provide direct insurance to any individual or entity therein. Media Contacts United States Kristen Doyle +1 973-802-6164 [email protected] Europe Tom Blackwell +44 07747 113 919 [email protected]