PENSION RISK TRANSFER
Ibstock Pension Scheme insured $236 million in liabilities through a second buy-in with Just Group.
Safeway Pension Scheme insured $1.7 billion in liabilities through a buy-in with Rothesay Life, its second with the insurer.
PPG Industries Inc. purchased a group annuity contract in March to transfer $309 million in U.S. pension plan liabilities to insurance companies.
Alcoa Corp. purchased a group annuity contract to transfer $235 million in Canadian pension plan liabilities.
DB (U.K.) Pension Scheme insured $493 million in liabilities through a buy-in with Aviva.
The estimated pension risk transfer cost in competitive bidding increased to 99.7% of a plan's total liabilities in February from 99.3% in January.
Spirent Communications insured $171 million in liabilities through a buy-in with Pension Insurance Corp.
GKN Group Pension Scheme insured $618 million in liabilities through a buy-in with U.K. insurer Just Group.
PRT deal volume surged nearly 40% in 2022, setting a new record, according to Legal & General Group.
U.S. pension risk transfer premiums among the most competitive bidding processes dropped below 100% in January for the first time since August.
