PENSION RISK TRANSFER
U.S. corporate pension plan buyout sales totaled a new all-time high of $48.3 billion in 2022, led by the $16 billion IBM deal.
RSA Group insured $7.8 billion in liabilities for two defined benefit funds through a buy-in with Pension Insurance Corp.
WESCO International Inc. terminated one of its U.S. pension plans, the Anixter Inc. Pension Plan, effective Dec. 31.
NOV Inc. bought a group annuity contract from Principal Life Insurance Co. to transfer about $184 million in U.S. pension plan liabilities.
Molson-Coors Beverage Co. purchased a group annuity contract to transfer about $185 million in Canadian pension plan liabilities.
Arcadia Group insured $1 billion in liabilities through a buy-in with Aviva, avoiding participants being moved into the Pension Protection Fund.
British American Tobacco UK Pension Fund insured $305 million in liabilities through a buy-in with Pension Insurance Corp.
United States Steel Corp. purchased a group annuity from Pacific Life Insurance Co. to transfer about $115 million in U.S. pension plan liabilities.
IMI 2014 Deferred Fund has insured $217 million in liabilities through a buy-in with Pension Insurance, its sixth deal with the insurer.
Weyerhaeuser Co. purchased a group annuity contract to transfer about $420 million in Canadian pension plan liabilities.
