Arconic Corp., Pittsburgh, purchased a group annuity contract from an insurer to transfer about $250 million in U.K. pension plan liabilities.
The company said the transaction during the second quarter "mitigates future mortality, inflation and yield curve risk" in an 8-K filing Tuesday with the SEC.
The company did not disclose from which insurer it purchased the group annuity contract.
Arconic Corp. was formed April 1 as a result of the separation of Arconic Inc. into two companies. The other company is Howmet Aerospace Inc.