BCG Spotlight Series

August 2024

Brent Simmons, Senior Vice President & Head, Defined Benefit Solutions at Sun Life, reviews key market trends, innovations and perspectives on the size and growth of the Canadian PRT market over the last 16 years. Brent also provides an interesting comparison of group annuity pricing in Canada versus the US and UK, highlighting the competitiveness of the Canadian market. To read the Q&A with Sun Life, click here.

June 2024

Dennis Manfredi, Co-Head of US Insurance Practice at Clifford Chance, discusses his experience and Clifford Chance's capabilities as a trusted advisor in the pension risk transfer market. Additionally, Dennis provides some insights regarding legal considerations for successful entry into the PRT market, including certain relevant legal ramifications of recent regulatory investigations and lawsuits. To read the Q&A with Clifford Chance, click here.

April 2024

George Palms, President at Legal & General Retirement America, discusses Legal & General’s growth in the U.S. pension risk transfer market and how the market has evolved since the firm entered in 2015. Additionally, George provides insight into Legal & General’s global pension risk transfer capabilities and shares some similarities and differences between the U.S. and U.K. markets. To read the Q &A with Legal & General, click here.

February 2024

Paula Cole, VP, Head of Pension Risk Transfer at Nationwide, discusses Nationwide’s growth in the pension risk transfer market and how operational excellence is helping drive results. In addition, Paula shares insights on using lean principles to create efficient processes, as well as six steps plan sponsors can use to ensure a successful transition using lean methodology. To read the Q&A with Nationwide, click here.

November 2023

Elizabeth Walsh, VP, Head of US Pensions at MetLife, discusses MetLife’s market-leading pension risk transfer business and the trends in today’s growing market. In addition, Elizabeth shares insights on insurer capacity as well as transaction timing, reinsurance and the potential for more jumbo deals in the coming years. To read the Q&A with MetLife, click here.

August 2023

Jay Dinunzio, VP at F&G, provides an introduction to F&G’s growing pension risk transfer business and discusses the critical role that assessing pensioner mortality plays in the PRT pricing process. Additionally, Jay highlights the importance of 9-digit Zip Code information and touches on how F&G has taken pandemic mortality into consideration when evaluating mortality experience and improvement. To read the Q&A with F&G, click here.

July 2023

Ton Van Welie, CEO at Ortec Finance, provides an introduction to Ortec Finance’s business, describes how he and his team help many of the largest institutional investors in the world make complex financial decisions, and provides his insights on why defined benefit pension plans may want to reduce risk in the current market environment, with particular emphasis on well-funded DB plans. To read the Q&A with Ortec Finance, click here.

April 2023

Michael Moran, CFA, Managing Director – Client Solutions at Goldman Sachs Asset Management discusses that while corporate defined benefit pension plans are enjoying their highest funded levels in 15 years, now is not the time for sponsors to be lulled into complacency. To read the Q&A with GSAM, click here.

March 2023

David Eichhorn, CFA, Chief Executive Officer and Head of Investment Strategies at NISA Investment Advisors discusses de-risking strategies among corporate plan sponsors. This includes a framework for thinking about hibernation and annuitization tradeoffs. Additionally, he provides thoughts on how plan sponsors can use a market-based approach to compare relative risk between insurance companies. To read the Q&A with NISA, click here.

January 2023

Kevin P. O’Brien, Partner in Ivins, Phillips & Barker’s Employee Benefits and Executive Compensation practice, shares his insights on the legal and fiduciary aspects of PRT transactions, including several legal tidbits that all plan fiduciaries considering a PRT annuity transaction should know. To read the Q&A with Ivins, Phillips & Barker, click here.

November 2022

Ethan Bronsnick, Managing Director, Head of US Pension Risk Transfer at Corebridge Financial discusses where Corebridge focuses its PRT efforts, what PRT developments surprise him the most, as well as his view on what makes PRT attractive in the current environment. Ethan also provides his perspective on why buy-ins are increasingly being used by plan sponsors on their path to eventual plan termination. To read the Q&A with Corebridge, click here.

September 2022

Glenn O’Brien, U.S. Market Leader, Head of Risk Transfer & Guarantee Products Distribution at Prudential provides his perspective on the current state of the U.S. PRT market, including latest trends, the balancing act of pricing and fiduciary considerations, pitfalls to avoid, and key considerations for plan sponsors and fiduciaries as the PRT market is now in its second decade of transformational growth. To read the Q&A with Prudential, click here.

April 2022

David Levine, Co-Chair, Plan Sponsor Group at Groom Law Group shared how plan terminations have evolved over the years and why proactive attention to wind down strategies for a plan’s alternative investments can often be beneficial. To read the Q&A with Groom Law Group, click here.

February 2022

Richard McEvoy, Senior Vice President and Pension Group Annuity Leader at Athene shared his thoughts on prevalent tailwinds for Pension Risk Transfer and how the market has adapted in recent years to accommodate larger transactions. To read the Q&A with Athene, click here.

October 2021

Mike Mulcahy, Head of U.S. Life Reinsurance for Canada Life Re and President of CLRe’s U.S. Subsidiary, Canada Life Reinsurance Company shared his thoughts on how the COVID-19 pandemic is impacting the pension risk transfer market and identified some key considerations for pension de-risking. To read the Q&A with Canada Life Re, click here.

July 2021

David Lipovics, Vice President, US Pension Risk Solutions, at the Global Financial Solutions Division of Reinsurance Group of America, Incorporated (“RGA”) shared his thoughts on recent key developments in the assessment of longevity risk and the impact on US pension risk transfer transactions. To read the Q&A with RGA, click here.