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NEWARK, N.J.--([ BUSINESS WIRE ])--Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), announced today the successful completion of a key longevity reinsurance transaction with Deutsche Bank. Under the terms of the transaction, Prudential Retirement will be one of several reinsurers of longevity risk to Deutsche Bank and its client, the Rolls-Royce Pension Fund. Prudentialas transaction covers pension liability values of approximately 500 million GBP, over $780 million U.S. dollars.

"Deutsche Bank is delighted to have worked with Prudential Retirement as a key partner to deliver the solution to the client."

aWe are pleased to complete our first such transaction with Deutsche Bank, a leading global investment bank, and provide reinsurance for its transaction with the Rolls-Royce Pension Fund,a said Phil Waldeck, senior vice president and head of Prudentialas Pension & Structured Solutions business. aIn providing reinsurance for this important transaction, one of the largest longevity risk transfers completed to date, Prudential continues to enhance retirement security through pension de-risking solutions around the world.a

aFalling interest rates, market volatility, increasing life expectancy, and accounting and regulatory changes are prompting plan sponsors, around the world, to explore available options to manage their exposure to risk and protect their balance sheets,a said Amy Kessler, senior vice president and head of Prudentialas Longevity Reinsurance business. aPrudential delivers pension risk transfer solutions that help plan sponsors respond to market turmoil and enhance retirement security for plan participants.a

aOur team from across the Corporate & Investment Bank combined structuring expertise with Deutsche Bankas balance sheet strength to deliver a cost effective solution for the Rolls-Royce Pension Fund,a said Andrew Reid, Managing Director of European Head of Pensions Origination, Deutsche Bank. aDeutsche Bank is delighted to have worked with Prudential Retirement as a key partner to deliver the solution to the client.a

In November, 2011 Prudential Retirement provided reinsurance of longevity risk covering $723 million U.S. dollars of pension liability value for a leading U.K. based pension insurer. This transaction followed Prudentialas initial June 2011 longevity reinsurance transaction.

Reinsurance contracts are issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT 06103. PRIAC is not a U.K. Financial Services Authority (FSA) authorized insurer and does not conduct business in the United Kingdom or provide direct insurance to any individual or entity therein. In the transaction with Deutsche Bank, the longevity risk has first been insured by an unaffiliated company prior to PRIACas reinsurance. Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, which is headquartered in the United Kingdom.

Deutsche Bank is a leading global investment bank with a substantial private client franchise. Its businesses are mutually reinforcing. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 73 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions, creating lasting value for its clients, shareholders, people and the communities in which it operates.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $214.7 billion in retirement account values as of September 30, 2011.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentialas diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudentialas iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit [ http://www.news.prudential.com/ ]

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