Asset Allocation
Ares Raises $2.3B for Life Insurance and Annuity Subsidiary
The alternative asset manager wants to capture the growing demand for retirement solutions through its insurer, Aspida Holdings Ltd.
Tag: Annuity
Pensions
Public Pension Funded Ratios Register 1st Decline Since April
The funded ratio for the 100 largest U.S. public pension plans fell by 160 basis points in October.
Regulation
PBGC Adjusts Quarterly, Monthly Interest Rates
Interest rates for late payment liability, ERISA 4044 annuity discount rates and variable rate premiums have been adjusted, the PBGC announced.
Asset Management Culture
AM Best Creates Pandemic-Related Stress Test for Insurance Firms
Pension risk transfer market likely to slow because of downturn.
Asset Management Culture
Rising Funded Levels, PBGC Premiums Spur Pension Buyout Record
Increased volatility caused by coronavirus likely to keep risk transfer market booming.
Research
Milliman Launches Index to Track Pension Risk Transfer Market
Buyout index estimates cost to transfer retiree pension risk to an insurer.
Risk
Baxter De-Risks $2.4 Billion in Pension Liabilities
Annuity contract with Prudential to transfer benefits for 17,200 members.
Navistar Canada De-Risks Pension Obligations, Assets
Truck manufacturer transfers $268 million to two insurers.
Weyerhaeuser Purchases Annuity to Reduce US Pension Liabilities
Move is expected to reduce liabilities by 30%, and participants and beneficiaries by 50%.
Risk
FedEx Sending $6 Billion in Pension Liabilities to MetLife
Transaction is largest risk transfer in US since Verizon/Prudential deal.
Newsmakers
Wisconsin Public Employee Pensions to Rise at Least 2.4%
Dividend payments are a result of a 16.2% return for the state’s core fund.
Aviva, Legal & General to Cover One-Third of Pearson Pension Risk
Deal is largest of its kind for Aviva.
IRI: Americans Are Not Prepared for Retirement
Report finds less than half of Baby Boomers and GenXers have any retirement savings.
US Annuity Sales Rise in Q2, But Still Down Nearly 10% from 2016
Non-qualified sales buoyed variable annuity market, IRI reports.
UK Annuity Sales Tumble Further
Sharp decline continues two years after new rules allow withdrawals without annuities.