Prudential Financial and Somerset to invest $450m in Pruco Life Insurance Company.

Prudential Financial, a global financial services leader and premier active global investment manager, and Somerset Reinsurance, a provider of reinsurance solutions for asset-intensive life insurance and annuity business, helping its clients manage capital efficiency and improve their financial results, to invest $450m in Pruco Life Insurance Company, an insurance company. “This transaction marks another significant milestone in our efforts to reduce market sensitivity and increase capital flexibility,” Charles Lowrey, Prudential Financial Chairman and CEO.