Pensions
RTX to Transfer $2.5B in Pension Obligations to Prudential
The pension risk transfer will result in a $300 million settlement charge in the fourth quarter.
Tag: Pension Risk Transfer
Pensions
L&G Completes $6.14B Pension Risk Transfer With Ford UK Pensions
The buy-in transaction for 35,000 retirees is the largest in the country this year.
PRT Lawsuit Against AT&T Dismissed
The court’s determination that the plaintiffs have standing to sue allows for the complaint to be refiled and could embolden others considering litigation.
Pension Risk Transfer Lawsuit Against General Electric Dismissed
The company was accused of violating its fiduciary duty by picking Athene for a $1.7 billion PRT in 2020.
Newsmakers
BCG Penbridge Adds 2 Pension Risk Transfer Consultants
Tom Sablak and Sam Mossing join the firm's de-risking consulting practice.
Pensions
Former Employee Accuses IBM of ‘Imprudent’ PRT Decision
IBM and State Street stand accused of putting cost savings ahead of retirees’ security by handing $14 billion in pension obligations to a Prudential unit.
Corporate Moves
Aviva, ABB Limited Complete $1.076B Pension Risk Transfer
The annuity buy-in will secure the benefits of more than 7,350 beneficiaries.
Pensions
PRT Market Outlook Remains Strong, Despite Mega-Deal Slowdown
The U.S. and U.K. will continue to be the center of the $1 trillion pension risk transfer boom, according to Legal & General.
Corporate Moves
Rolls-Royce Holdings Completes $5.77B Buy-In With Pension Insurance Corp.
The pension risk transfer transaction will cover the aerospace company’s remaining liabilities.
Pensions
National Grid Completes Third Pension Risk Transfer via Rothesay
The $1.2 billion annuity buy-in, the third in five years conducted by the pension and insurer, will cover 7,130 uninsured scheme members.
Corporate Moves
Brookfield Moves Into Annuities by Acquiring Just Group
The asset manager’s wealth solutions arm announced it will acquire the defined benefit insurer for $3.17 billion.
Pensions
Canadian PRT Transaction Volume Down 60% in H1
Plan de-risking deals took a backseat amidst market and trade-driven volatility, according to Sun Life.
Pensions
Huntsman Pension Completes $278 Million Buy-In with M&G
The PRT transaction will cover more than 660 retirees and deferred scheme members.
Pensions
PRT Volumes Expected to Reach $100B Annually in Coming Years
A new J.P. Morgan report found that pension risk transfers will be among the fastest-growing product lines in the life insurance sector.
Corporate Moves
Legal & General to Form Credit Partnership With Blackstone
The insurer’s annuity and asset management businesses will tap the alternatives giant for private credit offerings.