John Good & Sons Limited Pension Scheme insured $24 million in liabilities through a full buy-in with Legal & General.
U.S. corporate pension plan buyout sales totaled $1 billion in the first quarter, 78% lower than the same period in 2020.
Pension risk transfer premiums are lower than ever, attributable in part to increased competition and greater use of structured assets.
TUI Group U.K. Pension Trust insured $1.1 billion in liabilities through two buy-ins with Legal and General.
Wyeth Group Pension and Life Assurance Scheme (1997) completed a $268 million buy-in with Aviva.
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.
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.
The value of U.K. risk transfer deals grew 8.5% to $76 billion in 2020, driven by an increase in longevity swaps.
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.