Kramer Levin represented Zurich Assurance Ltd in the transaction.
Zurich Assurance Ltd. (Zurich) acted as intermediary in Prudential Retirement’s International Reinsurance business’s first reinsurance transaction involving an unnamed U.K. pension scheme. The transaction closed in March 2021. It transfers longevity risk associated with $8.4 billion of pensioner liabilities and is Prudential’s third largest U.K. longevity risk transfer transaction to date.
The Kramer Levin team advising Zurich was led by Insurance Transactional and Regulatory partner Daniel A. Rabinowitz (Picture) and included Corporate associate Martha Petrocheilos.
Law Firms: Kramer Levin Naftalis & Frankel;
Clients: Zurich Insurance Group;