Pensions
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.
Tag: PRT
Pensions
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
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
Unisys Announces $200M Pension Risk Transfer
The transaction is Unisys' sixth since 2021 and its third with F&G Annuities & Life.
Pensions
US PRT Premiums Increase 53% From Last Year in Q4 2023
Pension risk transfer premiums hit $12.7 billion last quarter.
Corporate Moves
PRT Market Headed for Another Year Over $40B, Aon Says
With Shell and Verizon both conducting large transfers in recent months, 2024 has already seen more than $10 billion.
Risk
Pension Risk Transfer Contracts Hit Record Numbers in 3Q
Dollar volume lagged, but that may be a sign of smaller plans’ increased use of PRTs.
Pensions
Pension Risk Transfers Poised for 2nd Strongest Year Ever
AT&T’s May transaction and other large PRTs push up the tally, Legal & General reports.
Regulation
Prudential Closes $1 Billion PRT Deal With PSEG
The utility company is looking for greater financial predictability and approved the partial annuitization of their pension plan.
Pensions
Pension Risk Transfers Hit Highest Level Ever
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.
Corporate Moves
Fidelity Forms Bermuda Reinsurance Firm Focused on PRT
The reinsurer was set up to manage risk from the booming pension transfer and retail annuity markets.
Risk
Union Warns Pension Funds to Be Wary of Private Equity-Backed PRT Insurers
UNITE HERE singles out Brookfield-owned American National Insurance Company as using risky strategies.
Risk
Yorkshire and Clydesdale Bank Pension Signs $2 Billion PRT Deal
The pension fund’s longevity swap agreement covers £1.6 billion in liabilities.
Pensions
UK Pension Risk Transfer Market Drops to £26 Billion in 2022
Despite decline, the British market topped £25 billion for the fourth straight year.
Newsmakers
US Single-Premium Buyout Sales Set Record in 2022
2022 was a banner year for risk transfers, setting records in total dollar volume, contracts signed and single-premium buyout deals as rates rose and funding statuses improved.