Eitan is a Vice President for the Growth Initiatives team within Prudential’s institutional retirement business. He works on product and market development in the Pension Risk Transfer (“PRT”) space, focusing on domestic PRT as well as reinsurance for international PRT providers.
In 2017, Eitan was a core member of the team that secured a buy-out with The Hartford, in which they transferred approximately $1.6 billion in pension liabilities to Prudential to provide benefits for 16,000 former employees. In 2019, Eitan led the successful closing of an $800M buy-in, developing and implementing several innovations necessary to secure the transaction.
In 2020, Eitan led the development of a reinsurance offering for PRT providers in international jurisdictions. His efforts culminated in a $400M transaction, the first of its kind for Prudential. Since then, funded reinsurance sales have eclipsed $2B.
Prior to joining Prudential in 2016, Eitan worked in actuarial consulting in Toronto for four years.
Eitan holds a bachelor’s degree in applied mathematics from York University. He is a Fellow of the Society of Actuaries, a Fellow of the Canadian Institute of Actuaries, a CFA® Charterholder and a Member of the American Academy of Actuaries.
Pension and medical risk transfer products are insurance products issued by The Prudential Insurance Company of America (PICA), Newark, NJ, a wholly owned subsidiary of Prudential Financial Inc. (PFI). PICA is solely responsible for its contractual and financial obligations. Guarantees are dependent on the claims-paying ability of PICA and are subject to certain terms, conditions, and limitations.
Certain insurance products used to transfer pension risk, including PICA’s Portfolio Protected Buy-Out and Portfolio Protected Buy-In, may utilize a separate account established by PICA, in which case, premium paid to PICA under the group annuity contract is deposited into a separate account. The payment obligations specified in the group annuity contracts for such products are insurance claims supported by the assets in the separate account, and if such assets are not sufficient, by the claims-paying ability of PICA, subject to certain terms conditions, and limitations.
This material is intended for informational purposes only. Before entering into a transaction or pursuing a strategy of the types described herein, you should consider the suitability of the transaction or strategy to your particular circumstances and independently review (with your professional advisors as necessary) the specific financial risks as well as the legal, regulatory, investment, credit, tax, and accounting consequences.
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Reinsurance products are issued by PICA. Neither PICA nor its parent company PFI, headquartered in the United States, is affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PICA is solely responsible for its financial condition and contractual obligations. PICA is not authorized or regulated by the U.K. Prudential Regulation Authority or regulated by the Financial Conduct Authority, nor does it offer insurance or reinsurance in the United Kingdom. PICA is not authorized or regulated by the Office of Superintendent of Financial Institutions for Canada or by the Financial Services Commission of Ontario. PICA is not authorized or regulated by supervisory authorities in the European Economic Area (EEA). PICA provides insurance products for U.S. pension plans in the United States and off-shore U.K. reinsurance to companies that have acquired U.K. pension risk through transactions with U.K. plan sponsors.
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