ICL Group Pension Plan insured $5.1 billion in liabilities through a longevity swap.
Arconic Corp. agreed to purchase a group annuity contract to transfer about $1 billion in U.S. qualified pension plan liabilities.
Consultants anticipate that 2021 will be another strong year when it comes to U.K. companies offloading pension risk.
J.C. Penney purchased a group annuity contract to transfer about $2.8 billion in pension liabilities to complete the plan termination.
The value of U.K. risk transfer deals grew 8.5% to $76 billion in 2020, driven by an increase in longevity swaps.
Nexstar Media Group paid $96 million in lump-sum payments to some 4,000 participants in Tribune Media pension plans in December.
Greif Inc. purchased a group annuity contract from an insurance company to transfer about $100 million in U.S. pension plan liabilities.
Baxter International Inc. distributed about $252 million in U.S. pension plan assets through lump sums to former employees.
Dow Inc. bought a group annuity contract from Metropolitan Tower Life Insurance to transfer about $700 million in U.S. pension liabilities.
AIG will pay a $12 million penalty to New York state for violations related to the pension risk transfer business of a subsidiary.
Marie Curie defined benefit pension scheme completed a buyout of about $41 million with Legal & General Assurance Society.
Pension funds transferred $14.5 billion in liabilities through deals announced in December.
Maersk Retirement Benefit Scheme insured $1.5 billion in liabilities with Legal & General Assurance Society.
BBC Pension Scheme completed a $4 billion longevity swap with Zurich and Canada Life Reinsurance.
Northern Gas Networks Pension Scheme completed a $512 million buy-in with Legal & General Assurance Society.
Trinity Industries Inc. purchased a group annuity contract to transfer the remaining liabilities of its U.S. pension plan.
U.S. corporate pension plans remain eager to transfer risk after a pause in the market resulting from the COVID-19 pandemic.
The Pension Benefit Guaranty Corp. is taking over J.C. Penney Co.'s defined benefit plan, following the company's May 15 bankruptcy filing.
BHS Senior Management Scheme completed a $3 million bulk annuity deal with Legal & General Assurance Society.
Waddell & Reed Financial completed the termination of its pension plan with a combination of a group annuity and lump sums to participants.
Newell Brands purchased a group annuity contract to transfer $155 million to $160 million in U.S. pension plan liabilities.
ITT Inc. purchased a group annuity contract to complete the termination of its U.S. qualified pension plan.
LSC Communications Inc. offered a lump-sum window in the third quarter to active and former participants in its U.S. pension plan.
Baxter International offered a window for acceptance of lump-sum payments to some participants in its U.S. pension plans.
Moog purchased a group annuity contract from Metropolitan Tower Life Insurance, transferring $481 million in U.S. pension plan liabilities.