The Markets February 10th, 2025 Legal & General to Sell 20% Stake in PRT Business In addition to the pension risk transfer stake, Japanese insurer Meiji Yasuda will acquire all of L&G’s U.S. protection business...
Compliance January 28th, 2025 Industry Groups Push to Dismiss PRT Lawsuit Against Bristol-Myers Squibb In an amicus brief, several advocacy groups warned that letting the lawsuit proceed past a motion to dismiss could open...
Compliance January 2nd, 2025 Verizon, SSGA Face Complaint About $5.9B PRT Transaction Law firm Edward Stone is representing three former employers who allege Prudential and RGA group annuity contracts are not the...
Deals & People December 4th, 2024 Prudential Promotes Global Investment Leader Sullivan to CEO Charles Lowrey will remain chairman, with Andrew Sullivan running the insurer and asset manager and Jacques Chappuis taking over as...
Data & Research May 13th, 2024 Winners and Losers of the PRT Market Boom Insurance carriers and asset managers skilled at pension risk transfer are reaping rewards of record transaction levels, while those specializing...
Compliance March 14th, 2024 Former Pension Plan Participants Sue Lockheed Over Athene Risk Transfer The lawsuit against Lockheed related to its PRT with Athene comes close on the heels of a similar suit against...
Deals & People March 8th, 2024 Prudential, RGA Assume Verizon Pension Obligations of $5.9B The telecom giant announced the pension risk transfer through its purchase of single-premium group annuity contracts covering 56,000 retirees.
Deals & People September 8th, 2023 Prudential, Warburg Pincus Partner on Reinsurance Firm The two financial firms are launching Prismic Life Reinsurance with $10 billion in reserves.
Compliance July 19th, 2023 EBSA Mulls Modifying PRT Rules Many stakeholders advised the DOL on how to change fiduciary standards for annuity provider selection.
Compliance July 18th, 2023 ERISA Advisory Council Highlights Trends in Pension Risk Transfers PRTs are trending upward, but their relationship with private equity and non-traditional investments is drawing more scrutiny.
Products July 14th, 2023 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,...
In Practice March 13th, 2023 DB Pension Risk Transfers May Slow Due to Lack of Liquidity Experts at last week’s PLANADVISER DB Summit discussed the challenges of transferring risk despite high interest rates.
Compliance May 5th, 2022 Senate Legislation Calls for Expanded Lump-Sum Payment Disclosures The bill’s cosponsors say workers need better information about how the choice of a lump-sum buyout of their lifetime pension...
Compliance March 7th, 2022 Understanding PRT: A Checklist for Implementing a Pension Risk Transfer Experts discuss the various elements to consider before implementing a pension risk transfer to help ensure its success.
Compliance January 5th, 2022 New York State Fines Pacific Life for PRT Violations The company was penalized for violating state law by conducting an unlicensed insurance business.
Data & Research October 8th, 2021 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.
Compliance April 27th, 2021 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.”
Compliance February 3rd, 2021 AIG Enters Consent Order with New York DFS Over PRT Transactions AIG will pay a $12 million penalty to New York state for unlicensed pension risk transfer business.
In Practice July 29th, 2020 Should Advisers Bother With Pension Plans? Most in the retirement planning industry agree that defined contribution is the future. But what opportunities are there for advisers...
Compliance April 16th, 2020 PRT Provider Fined for Unlawful Transactions in New York Athene will pay a $45 million penalty to New York state for New York insurance law violations related to its pension risk transfer business.