PPG Agrees to Transfer Pensions of 4,000 Retirees
The $309M transaction moves the liabilities to insurers Legal & General and RGA.
The $309M transaction moves the liabilities to insurers Legal & General and RGA.
UNITE HERE singles out Brookfield-owned American National Insurance Company as using risky strategies.
The pension fund’s longevity swap agreement covers £1.6 billion in liabilities.
Despite decline, the British market topped £25 billion for the fourth straight year.
Will the PRT be financially solid? Will the sponsor be left worse off? How will transferred beneficiaries fare?
Market conditions could push some plan sponsors to consider risk transfers sooner, but funded status remains a key concern.
However, insurance companies likely won’t be able to accommodate the increased demand.
Prudential, MetLife to take over responsibility for 100,000 participants and beneficiaries.
A huge transfer from Lockheed cemented its lead, says S&P, as pension shifting grows.