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.
Tag: Pension Risk Transfer
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.
Pensions
Half of DB Sponsors Plan to Stay in the ‘Pension Ecosystem’
As funding levels have improved, corporate finance officials are looking instead at plan design and risk management options, Mercer research found.
Pensions
Rising Discount Rates Push Pension Risk Transfer Costs Lower in April
Transferring retiree assets now costs an estimated 101.1% of a plan’s accumulated benefit obligation.
Asset Allocation
Market Volatility, Litigation Slow PRT Deal Flow
Solutions could include consideration of plan design and lifetime income options for plan sponsors and participants.
Pensions
PRT Costs Rise in March, while Volumes Fall
Amid up-and-down markets, the estimated cost to transfer plan liabilities to insurers rose to 102.5% of accumulated benefits obligations.
Pensions
Broad PRT Market Growth Continued in 2024
LIMRA reported single-premium pension risk transfer sales hit $51.8 billion last year.