Media Contact:

Pension Risk Transfer
Josh Stoffregen / 973-802-3996 / josh.stoffregen@prudential.com

August 15, 2017

Finance chiefs’ pension risk transfer motivations revealed in new research

NEWARK, N.J., Aug. 15, 2017 - The increasing costs and volatility of managing defined benefit pension plans have long been at the center of the motivations for transferring a company’s pension risk to an insurer. But which costs and what kinds of volatility are finance chiefs most concerned about? A new survey involving 80 senior finance executives at companies with traditional pensions sheds light on the motivations behind pension risk transfer decisions in the executive suite. 

June 26, 2017

The Hartford entrusts Prudential with $1.6 billion in pension obligations for 16,000 former U.S. employees

NEWARK, N.J., June 26, 2017 - The Hartford has agreed to settle $1.6 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, the company announced today. The agreement transfers responsibility for paying the pension benefits of approximately 16,000 of The Hartford’s retirees and former U.S. employees, as well as their beneficiaries. The transaction represents approximately 29 percent of The Hartford’s pension obligations.