Regulation
No Recommendations Yet From the Labor Department on PRT Provider Selection
The department published its overdue report on the rules for selecting an annuity provider, but put off making any changes.
Dollar volume lagged, but that may be a sign of smaller plans’ increased use of PRTs.
AT&T’s May transaction and other large PRTs push up the tally, Legal & General reports.
Companies that sold their plan liabilities to insurers set records for dollar volume and deal numbers in the first half of 2023, per an Aon study.
The reinsurer was set up to manage risk from the booming pension transfer and retail annuity markets.
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.