Canada. Group annuities grow steadily and may hit $5 billion in 2018
The group annuity business — which allows corporations to reduce the risks associated with managing their pension funds – continues to thrive, even if, in the grand scheme of things, it is still relatively small.
In 2017, according to a recent annual review from Willis Towers Watson, a pension fund-consulting firm, the volume of business undertaken by more than 100 pension funds rose to $3.7 billion, about $1 billion more than in 2016.
“High activity levels were observed throughout the year, with sizeable transactions in the first half of the year and a high number of smaller transactions in the second half of the year,” said the report from the firm’s Montreal office.
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