The Canadian annuity purchase market recorded $700 million in transactions during the first quarter of 2025, according to a new report by Telus Health. It noted a “notable deceleration” in the volume of transactions after what a record-breaking year, which isn’t uncommon for the first quarter of a new year. The last quarter of 2024 […]
The pension risk transfer market achieved a record-breaking demand with $11 billion in deals at the end of 2024, according to a new report from Telus Health. The year-end total from 2024 eclipsed the $7.8 billion total worth of annuities transaction volume seen in 2023 and 2022. The fourth quarter saw $5.2 billion worth of […]
Increased deal-making in the Canadian annuities market is adding pressure to defined benefit plan sponsors seeking to de-risk their plans, says Jason Vary, president of Actuarial Solutions Inc. “[The market is] getting worse,” he says. “This year, I’ve had some experiences where we’re placing some small annuities, under $5 million, and we really struggled to […]
The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.1 billion in the third quarter of 2024, a small decline from $2.5 billion in the previous quarter, according to a new report by Telus Health. It noted some insurers are showing a strong appetite and offer competitive pricing […]
Bristol-Myers Squibb Co. is being targeted in a lawsuit over a US$2 billion pension risk transfer deal completed in 2019 with Athene Annuity and Life Co. The class action lawsuit, filed by former employee Charles Doherty and which names independent consultant State Street Global Advisors Trust Co. as a defendant, argues the pharmaceutical company is […]
The market volume of annuity purchases by Canadian defined benefit pension plan sponsors reached an estimated $2.5 billion in the second quarter of 2024, compared to $1.1 billion in the previous quarter, according to a new report by Telus Health. While plan sponsors that are poised for upcoming transactions have an advantageous position, insurers are […]
U.S. pension risk transfer sales reached US$14.6 billion in the first quarter of 2024, a 130 per cent increase from the same period in 2023, according to a report by LIMRA. Single-premium buy-out sales totalled $14.2 billion in the first quarter, up 124 per cent from this period in 2023. There were 146 contracts sold […]
The total premium of U.S. pension risk transfer sales reached US$12.7 billion in the fourth quarter of 2023, a 53 per cent increase from the same period in 2022, according to a report by LIMRA. It found that pension risk transfer sales totalled $45.8 billion in 2023, down 13 per cent from 2022. There were […]
An article detailing Ford of Canada’s transfer of $923 million in pension plan liabilities through a group annuity buyout was the most-read story on BenefitsCanada.com. Here are the top five human resources, benefits, pension and investment stories of the past week. 1. Ford Canada transferring $923 million in pension liabilities via group annuity buyout 2. AIMCo highlighting importance […]
Ford of Canada is is transferring the longevity risk for $923 million in pension plan liabilities through a group annuity buyout. RBC Insurance, Sun Life Assurance Co. of Canada and Desjardins Group will assume responsibility for making pension payments to 2,700 of the plan’s members, who retired on or prior to June 1, 2021. Read: GM Canada […]