2012, 2013 pivotal years in globalization of pension risk transfer markets
Longevity risk awareness is rising among sponsors of defined benefit pension plans and is increasingly a factor driving pension de-risking transactions, according to Amy Kessler, head of Longevity Reinsurance for Prudential Retirement’s Pension & Structured Solutions business.Kessler, speaking recently at the International Longevity Risk and Capital Markets Solutions Conference in Waterloo, Canada, said pension funds “are looking for approaches that allow plan sponsors to reduce risk, increase certainty and keep pension promises to their employees. Those de-risking their pension plans set themselves apart as industry leaders and create more consistent financial results.” Doing so—whether through buy-ins, buy-outs or longevity de-risking—also enables their companies to focus on their core business and maximize strategic flexibility, especially in a down market.
Want to learn more about longevity risk transfer or speak with Amy? Read her presentation or contact Dawn Kelly or Josh Stoffregen.
Insurance products are issued by either Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or The Prudential Insurance Company of America (PICA), Newark, NJ. Both are Prudential Financial companies. Each company is solely responsible for its financial condition and contractual obligations.
PRIAC and PICA provide insurance products for U.S. pension plans but are not authorized to provide insurance products for U.K. pension plans. Neither PRIAC nor PICA nor Prudential Retirement are authorized or regulated by the U.K. Financial Services Authority (FSA) nor any other regulatory bodies of European Economic Area (EEA). They do not offer insurance or reinsurance in the United Kingdom nor in the European Economic Area (EEA). PRIAC does provide reinsurance in the United States to U.K. insurance companies that have acquired U.K. pension risks through transactions with U.K. plan sponsors.
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