ICL Group Pension Plan insured $5.1 billion in liabilities through a longevity swap.
Edward Root was named managing director at insurer Global Atlantic Financial Group to lead the insurer's pension risk transfer business.
Archer Daniels Midland bought group annuity contracts from three insurers to transfer a total of about $700 million in pension liabilities.
Arconic Corp. agreed to purchase a group annuity contract to transfer about $1 billion in U.S. qualified pension plan liabilities.
General Motors purchased group annuity contracts transferring about $1.4 billion in Canadian pension plan liabilities to three insurers.
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.
Centrus Energy Corp., Bethesda, Md., purchased a group annuity contract to transfer about $30 million in pension plan asset and liabilities.
AXA U.K. Group Pension Scheme insured $4.1 billion in liabilities through a longevity swap with Hannover Re.
Civil Aviation Authority Pension Scheme has insured $152 million in liabilities through a buy-in with Legal & General.
U.S. corporate pension plan buyout sales rose to $13.7 billion in the fourth quarter, a 21% increase over the same period in 2019.
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.
Eastman Chemical Co. purchased a group annuity contract to transfer about $110 million in U.S. pension plan liabilities.
DTE Energy Co. purchased a group annuity contract from an insurance company to transfer certain U.S. pension plan liabilities.
Philips North America purchased group annuity contracts to transfer the liabilities of certain pension plan participants.
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.
Kemper Corp. completed pension risk transfer transactions that cut its liabilities by nearly half.
AIG will pay a $12 million penalty to New York state for violations related to the pension risk transfer business of a subsidiary.
Aberdeen City Council Transport Fund insured $315 million in liabilities through a buy-in with Rothesay Life.
Legal & General Group U.K. Senior Pension Scheme purchased a $547 million assured payment policy for its participants.
Lockheed Martin completed pension buyout and buy-in transactions totaling $2.2 billion through the purchase of two group annuity contracts.
Weyerhaeuser Co. purchased a group annuity contract from to transfer about $765 million in U.S. pension plan liabilities.
Unisys Corp. entered into an agreement to purchase a group annuity contract to transfer about $280 million in U.S. pension plan assets.