Prudential Wins $2.5 Billion Pension Deal With WestRock

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  • Insurer sells annuity covering 35,000 retirees, beneficiaries
  • WestRock cuts U.S. pension obligations by 40% with transfer

Prudential Financial Inc. won a $2.5 billion pension-risk transfer deal with paper and packaging company WestRock Co., cementing the insurer’s status as the biggest player in the business of taking on retirement obligations for employers.

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