Prudential financial to reinsure $12.5b guaranteed universal life block with somerset re

Newark, n.j.--(business wire)--prudential financial, inc. (nyse: pru) announced today an agreement to reinsure a portion of its guaranteed universal life block with somerset re, resulting in approximately $450 million of proceeds.1 under the terms of the agreement, somerset re will reinsure approximately $12.5 billion of reserves backing prudential's guaranteed universal life policies issued by pruco life insurance company and pruco life insurance company of new jersey. this transaction, coveri.
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