Prudential appoints new Head of Pension Risk Transfer

Prudential Retirement, possibly the largest global player in pension risk transfer and longevity insurance, reinsurance and swaps, has appointed a new Head of Pension Risk Transfer, to lead the team.

Prudential, which alone has over $100 billion of pension risk transfer and structured settlement liabilities under its management, is responsible for the largest longevity swap and reinsurance transactions to date.

Scott Kaplan has been named the new Head of the Pension Risk Transfer Business Team. A senior member of the Pension Risk Transfer leadership team, Kaplan will continue to report to Phil Waldeck, the overall group Head of Pension & Structured Solutions.

The rest of Prudential’s PRT team remains the same, including Amy Kessler, who will continue to lead and grow the longevity reinsurance business in her current role as head of the longevity reinsurance team.

“Scott has been a key contributor to our Pension Risk Transfer strategy and its execution. I am confident he will continue developing thoughtful, market-leading strategies to help companies better manage their pension liabilities and keep their promises to retirees,” Waldeck commented on the appointment.

Kaplan has been with Prudential for 18 years. He previously led risk transfer and risk management strategies for pension plan sponsors, in the role of senior vice president and head of Global Product and Market Solutions for Prudential’s Pension & Structured Solutions business.

Prior to that he served as the senior finance leader for Prudential’s individual life insurance business and as managing director within Prudential’s Treasurer’s Department, where he co-headed the Corporate Finance Group and served as Prudential’s liaison with the rating agencies. He is also a former member of the core treasury team which led Prudential’s demutualization.