Supremex Announces $46 Million CAD Group Annuity Purchase as Part of its Pension Risk Management Strategy

Dietrich > Industry > 2020-Industry > Supremex Announces $46 Million CAD Group Annuity Purchase as Part of its Pension Risk Management Strategy

Supremex Inc. (“Supremex” or the “Company”) (SXP.TO), 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┬ámillion CAD group annuity buy-in with RBC Life Insurance Company in order to transfer longevity and investment risks related to the pensioners and deferred vested members of its largest defined benefit plan.

The transaction covers 361 pensioners, beneficiaries and deferred vested members. A similar transaction of nearly $7 million CAD was also performed in June 2018 for a smaller group of pensioners with respect to another defined benefit pension plan of the Company.

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