The U.S. pension risk transfer market is expected to see a strong 2021 as corporations take advantage of improved funded status to derisk.
Pactiv agreed to purchase a group annuity contract to transfer about $950 million in U.S. pension plan liabilities.
Commonwealth Bank of Australia (UK) Staff Benefits Scheme insured $582.9 million in liabilities with Legal & General.
Consultants anticipate that 2021 will be another strong year when it comes to U.K. companies offloading pension risk.
The value of U.K. risk transfer deals grew 8.5% to $76 billion in 2020, driven by an increase in longevity swaps.
Philips North America purchased group annuity contracts to transfer the liabilities of certain pension plan participants.
U.S. corporate pension plans remain eager to transfer risk after a pause in the market resulting from the COVID-19 pandemic.