Tag: PRT

Corporate Moves February 7, 2025

Legal & General to Sell 20% Stake in PRT Business to Meiji Yasuda

In addition to the pension risk transfer stake, the Japanese insurer will acquire all of L&G’s U.S. protection business in a total $2.3 billion deal.

Pensions January 7, 2025

Clarks Footwear, Pension Insurance Corp. Complete $677M Annuity Buy-In

The pension risk transfer will cover 8,000 beneficiaries and could set the stage for a record-setting year in transaction volume.

Pensions December 12, 2024

Wates Group Pension to Transfer 1,500 Members to UK ‘Superfund’

$267 million in assets will move to Clara-Pensions, the company’s third such transaction—but first with an active sponsor.

Pensions November 27, 2024

US PRT Market Sees $14B in Volume in Q3

Nearly half of this quarter’s pension risk transfer volume came from IBM’s $6 billion PRT with Prudential, per Legal & General Retirement America.

Pensions October 9, 2024

Plan Sponsors Increasingly Seek to Divest All DB Liabilities Amid Corporate Scrutiny

Some 93% of companies with de-risking plans expect to completely divest their defined benefit liabilities, according to a MetLife survey.

Pensions September 19, 2024

Rate Cuts Unlikely to Affect PRT Market in Short Term

Funds are more sensitive to long-term rates, upon which the Federal Reserve’s action will have little impact.

Pensions September 12, 2024

IBM Secures $6B Pension Risk Transfer With Prudential

The latest deal follows the company closing its defined contribution plan in 2023 in favor of a cash-balance pension plan and an earlier $16 billion PRT.

Pensions September 6, 2024

Pension Risk Transfer Market Reaches $26 Billion in Transaction Volume in H1 of 2024

In the U.K. and U.S., large plans are increasingly seeking PRTs.

Regulation June 24, 2024

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.

Pensions June 13, 2024

3M to Transfer $2.5B in Pension Liabilities to Met Tower Life

The pension risk transfer will cover 23,000 of the company's retirees.  

Pensions June 7, 2024

Pension Risk Transfer Premiums Reach $14.6 Billion in Q1

146 contracts were sold in the quarter, a 26% increase from Q1 2023 and an all-time record.

Pensions May 28, 2024

Entergy Enters $1.2 Billion Pension Risk Transfer with MetLife

The transaction is one of many billion-dollar annuity buyouts to occur this year.  

Alternatives April 4, 2024

Blue Owl Announces $750M Kuvare Acquisition in Latest Insurance Deal

The alternative asset manager plans to create Blue Owl Insurance Solutions following the purchase of Kuvare Asset Management and life and annuity insurance firm Kuvare UK Holdings. 

Pensions April 1, 2024

Unisys Announces $200M Pension Risk Transfer

The transaction is Unisys' sixth since 2021 and its third with F&G Annuities & Life. 

Pensions March 28, 2024

US PRT Premiums Increase 53% From Last Year in Q4 2023

Pension risk transfer premiums hit $12.7 billion last quarter.