Industry News

The US single-premium pension buyout market set a record with 501 contracts sold in 2019, according to the LIMRA Secure Retirement Institute, and sales are expected to increase again this year as the markets become increasingly volatile as a result of the coronavirus.
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Supremex Inc., a leading North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions, today announced the purchase of a $46 million CAD group annuity buy-in with RBC Life Insurance Company.
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A Legal & General executive says the pipeline for 2020 looks great.
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Plan sponsors will need to consider whether in 2020, as in 2019, stock market returns will be great enough to offset rising liabilities from interest rate decreases.
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Amid market volatility and a desire to limit the costs and downside risks associated with their pension plans, sponsors are reconsidering their approaches and talking with insurers about options they may not have previously considered.
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Steel producer AK Steel has purchased a group annuity contract from Massachusetts Mutual Life Insurance Company to transfer approximately $615 million of its pension obligations.
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Legal & General Retirement America’s Pension Risk Transfer Monitor shows the U.S. pension risk transfer (PRT) market has remained very active throughout the first three quarters of 2019.
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The number of pension risk transfer deals, including those involving full plan terminations, is expected to rise this year, sources said.
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As employers wrestle with how to best mitigate the financial risks associated with sponsoring defined benefit (DB) pension plans, they should weigh the relative benefits of limiting versus eliminating those risks over time, according to a new white paper from MassMutual, “Key Decisions for De-Risking Your Pension Plan.”
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