Prudential, Warburg Pincus Partner on Reinsurance Firm
The two financial firms are launching Prismic Life Reinsurance with $10 billion in reserves.
Fidelity Starts Reinsurer Focused on PRT, Retail Annuities
The investment giant has registered a Bermuda affiliate to focus on the booming pension risk transfer and retail annuity markets, according to a filing.
Understanding PRT: Fiduciary and Admin Considerations
New York State Fines Pacific Life for PRT Violations
The company was penalized for violating state law by conducting an unlicensed insurance business.
PRTs and In-Plan Annuities Among Top 2022 Trends to Watch
The past two years have been challenging for institutional investors, but they have also brought about opportunities to address some long-term financial challenges.
PRT Activity Anticipated to Increase Within the Decade
Several factors will likely drive more mid-market and large plan sponsors to initiate pension risk transfer (PRT) transactions, surveys show.
Aon, Alight Win Lawsuit Alleging PRT Failures
Following a bench trial, said the firms “acted prudently and reasonably in administrating, investing and terminating the pension plan.”
Magistrate Judge: Lawsuit Alleging PRT Advice Failures Should Continue
Among the interesting points of legal discussion in the magistrate judge's report is an evaluation of the standard embraced by the U.S. Circuit Court of Appeals for the 11th Circuit for weighing witness testimony in ERISA cases.
Watching Interest Rates Can Save Clients Money on PRTs
The higher the annuity credited rate (interest rate) for a pension risk transfer (PRT), the more interest an insurer would earn and the less money it needs today in order to guarantee the monthly benefit, but the lower the interest rate, the less interest it would earn and the more money it needs today, explains Mark Unhoch, with October Three.
It’s Important to Understand PRT Balance Sheet Hits
Looking at the hits company balance sheets take from a pension risk transfer (PRT) to terminate a defined benefit (DB) plan, may cause plan sponsors to change course.
Medium and Large Plans Drive Peak Pension Risk Transfer Sales in 2018
In 2018, single premium buy-out product sales peaked at $26 billion, more than 14% higher than 2017, according to LIMRA Secure Retirement Institute’s quarterly U.S. Group Annuity Risk Transfer Survey.
Goldman Sachs Sees Stars Aligning for Pension PRT
Clients with defined benefit plans that are currently enjoying a bump in funded status may want to act soon to lock in those gains while market conditions remain favorable.
International Paper and Prudential Transfer $1.6 Pension Obligation
As part of the PRT agreement, Prudential will assume the responsibility for paying pension benefits to about 23,000 International Paper retirees.
Checking in With Verizon Pensioners Post Risk Transfer
PLANADVISER interviewed a spokesperson for a large group of Verizon retirees back in 2015, shortly following their defeat in appellate court in a case challenging the merits of pension risk transfers; we catch back up with Jack Cohen to talk shop and ask, how have things been going post annuitization?