Agfa UK Group Pension Plan insured $318 million in liabilities in a buy-in with Phoenix Group.
AIB Group U.K. Pension Scheme insured $86 million in liabilities through the conversion of an existing policy into a buy-in.
Unisys Corp. transferred the assets of its Dutch subsidiary's primary pension plan to an unnamed multiemployer pension plan.
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.
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.
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.
Legal & General Group U.K. Senior Pension Scheme purchased a $547 million assured payment policy for its participants.
Evonik Industries secured the benefits for two of its global pension plans in the U.S. and the U.K.
Marie Curie defined benefit pension scheme completed a buyout of about $41 million with Legal & General Assurance Society.
Unisys Corp. entered into an agreement to purchase a group annuity contract to transfer about $280 million in U.S. pension plan assets.
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.
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.
Kellogg Co. purchased a group annuity contract to transfer about $470 million in U.S. pension plan assets and liabilities.