Brief: NN Life completes two longevity transactions

NN

20/12/2023 05:52

Dec 20 (Reuters) - NN Group  NN.AS :
    * NN Group announces today that its subsidiary NN Life has
completed two transactions to transfer the full longevity risk
associated with in total approximately EUR 13 billion of pension
liabilities in the Netherlands
    * The transactions cover the longevity risk of approximately
300
thousand policies and have been entered into with an insurance
subsidiary of Prudential Financial, Inc
    * The risk transfer will become effective as of 31 December
2023,
and the reinsurance agreements will continue until the portfolio
has run off
    * The reinsurance deals have no impact on the services and
guarantees that NN provides to its policyholders.

        
 Further company coverage:  NN.AS  

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