International
PGIM Real Estate Sells Waterfront Place in Shanghai
SHANGHAI, Jan. 10, 2018 – PGIM Real Estate has sold Waterfront Place, an office property in Shanghai, China, on behalf of Asia Property Fund (ASPF) III. PGIM Real Estate is the real estate investment business of PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
QMA continues to build global platform; hires John Gee-Grant as first head of international distribution
NEWARK, N.J., Nov. 29, 2017 - John Gee-Grant will join QMA in the newly created role of head of international distribution and global consultant relations, as the company continues to expand its global capabilities in client and business development.
Prudential, PIC Reach $1.2 Billion Longevity Reinsurance Agreement
NEWARK, N.J., Nov. 09, 2017 - Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE:PRU), and Pension Insurance Corporation (PIC), have entered into their fifth longevity reinsurance transaction since 2015. In the agreement, The Prudential Insurance Company of America assumes the longevity risk for $1.2 billion (about £900 million) in pension liabilities, covering approximately 4,000 pensioners across four pension schemes.
Pramerica opens state-of-the-art campus in Letterkenny
LETTERKENNY, Republic of Ireland, Oct. 20, 2017 – Pramerica Systems Ireland Limited, a wholly-owned subsidiary of Prudential Financial, Inc., today opened a new €42 million campus in Letterkenny, continuing its long-term commitment to County Donegal. Opening with just eight employees in 2000, Pramerica has grown to become the largest employer in the northwest region with more than 1,500 people on staff.
For Asia’s rapidly aging populations, innovation and forward-thinking policies drive retirement security
TAIPEI, Taiwan, September 22, 2017 - The quickening pace of aging in Asia – a region with more than half the world’s population over 60 – has urgent implications for the region’s families, retirees, pensions and policy makers.
MMC UK Pension Fund, advised by Mercer, selects Prudential and Canada Life Reinsurance to reinsure the longevity risk of £3.4 Billion ($4.3 billion) in pension liabilities
The Trustee of the MMC UK Pension Fund (the “Fund”) has announced the largest longevity risk transfer for a UK pension fund since 2014. The transaction, which reinsures the longevity risk of £3.4 billion ($4.3 billion) in pension liabilities, will provide long-term protection and income to the Fund in the event that the covered participants live longer than expected. It also lowers the risk that Marsh & McLennan Companies will face unexpected pension contributions due to an increase in pensioner life expectancy.