Coverage of the 2013 Risk Management Conference
The Canadian Wheat Board (CWB) has signed a deal with Sun Life Financial to purchase a $150-million annuity policy that transfers investment and longevity risk from its DB plan to the insurer.
$150 million policy pushes risk to insurer.
The Canadian Wheat Board has purchased a $150-million annuity policy from Sun Life Financial that transfers investment and longevity risk from its DB plan to the insurer.
Canadians now are living longer and healthier lives than the generations past. According to Statistics Canada, Canadians are already living about 20 years past age 65 and the number of centenarians has increased by more than 25% since 2006. And, the number of seniors aged 65 and over increased by 14.1% since 2006.
Sponsored By: Why De-Risk? Many DB plan sponsors have decided that their defined benefit obligations are unsustainable. As a result they are looking for approaches to opportunistically reduce risk over a time horizon appropriate for their financial constraints and workforce arrangements. Each DB plan sponsor will have a very specific set of plan provisions, financial […]
It was a difficult few months in the second quarter of 2012 for Canadian pension plans, according to reports released today by both Mercer and Towers Watson. Mercer’s Pension Health Index stands at 77% as of June 30, down 5% over the quarter. And Towers Watson’s DB Pension Index fell 1.4%.
With interest rates stuck at historic lows, we’re at a point where the “annuities are expensive” mantra is conventional wisdom and rarely questioned. The purpose of this article is to explore this notion and quantify what “expensive” really means.
U.K. plan sponsors have been on the de-risking journey for many years, with the majority of U.K. DB plans having now completed, or at least considered, some form of de-risking.
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 […]