Risk transfer Archives - Pension Policy International

28FebFebruary 28, 2023

RSA Group completes one of largest pension risk transfer deals in U.K.

RSA Group insured £6.5 billion ($7.8 billion) in liabilities for two defined benefit funds through a buy-in with Pension Insurance Corp. in one of the largest risk transfer transactions ever in the U.K. market. RSA Group, which is a subsidiary of Intact Financial Corporation, covered liabilities for 40,000 plan participants of Sal Pension Scheme and the Royal Insurance Group Pension Scheme. Intact contributed £500 million to the deal, which was accelerated by an improvement in pension fund funding levels due to...

February 28, 2023

NewsRisk transfer, South Africa, UK

28FebFebruary 28, 2023

Milliman analysis: Competitive pension risk transfer buyout rate drops 90 basis points to 99.3% during January

Milliman, Inc., a premier global consulting and actuarial firm, today announced the latest results of its Milliman Pension Buyout Index (MPBI). As the pension risk transfer (PRT) market continues to grow, it has become increasingly important to monitor the annuity market for plan sponsors that are considering transferring retiree pension obligations to an insurer. During January, the estimated cost to transfer retiree pension risk to an insurer in a competitive bidding process decreased from 100.2% of a plan's total liabilities...

February 28, 2023

NewsOccupational Pensions, Risk transfer

21OctOctober 21, 2022

P&I Research Center. Pension Risk Transfer

By Valerie Ge Over the past 12 months through June, $57.4 billion in liabilities were involved in pension risk transfer deals. Pension buyout transactions reached $25.3 billion, or 44.1% of the total, followed by buy-ins of $23.2 billion, 40.4%, and longevity swaps of $7.5 billion, or 13.1% of the total. Buyout transactions increased 93.3% from $2.9 billion in the fi rst quarter but buy-in transactions declined to $2.4 billion from $7.3 billion. Source: @s3 prod pionline 330 views

October 21, 2022

Books, Books, Pension Management, Reports, System Characterization2022, Regulation, Risk transfer, savings, US

14SepSeptember 14, 2022

Prudential and MetLife entrusted to fulfill $16B in pension obligations for 100,000 IBM retirement plan participants and beneficiaries

Prudential has been selected to participate in a $16 billion pension risk transfer transaction with International Business Machines Corporation (IBM), the second-largest pension risk transfer ever in the U.S. market. Under the terms of the agreement, The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU), and Metropolitan Life Insurance Company (MLIC), a subsidiary of MetLife, Inc. (NYSE: MET), will each insure 50% of the pension benefit payments for each of the approximately 100,000 IBM...

September 14, 2022

NewsPension Management, Risk transfer, UK, US

07SepSeptember 7, 2021

HP ships off $5.2 billion in pension liabilities

HP Inc., Palo Alto, Calif., has entered into an agreement to purchase a group annuity contract from Prudential Insurance Co. of America to transfer about $5.2 billion in U.S. pension plan liabilities. The transaction, which removes nearly half of the computer hardware company's U.S. pension plan assets from its balance sheet, is scheduled to close in the company's fiscal year fourth quarter ending Oct. 31. When completed, the group annuity purchase will transfer the benefit-paying responsibility for about 41,000 retirees and...

September 7, 2021

News, Slider2021, Risk transfer, US

February 2023

RSA Group completes one of largest pension risk transfer deals in U.K.

Milliman analysis: Competitive pension risk transfer buyout rate drops 90 basis points to 99.3% during January

October 2022

P&I Research Center. Pension Risk Transfer

September 2022

Prudential and MetLife entrusted to fulfill $16B in pension obligations for 100,000 IBM retirement plan participants and beneficiaries

September 2021

HP ships off $5.2 billion in pension liabilities