U.S. Pension Risk Transfer Database Launched
The PRT database provides registered users with an independent source for insurance company organizational information, pension buy-in and buy-out product fact sheets, and screening tools, pricing data, up-to-date information on each PRT provider’s financial strength, and relevant industry research. It is supported by participating providers, including American General Life Companies, MetLife, Pacific Life, Principal Financial Group, Prudential, Transamerica, and United of Omaha.
US Regional Head of CAMRADATA Steve Keating said in the announcement: “It is possible to effectively de-risk defined benefit plans with annuity buy-in and buy-out solutions. The key questions are how, when, with whom and at what cost? We have developed the PRT product database to help plan sponsors and advisors get the information they need to answer these questions.”
Registered users will be able to request pension buy-in and buy-out quotes directly from providers and exchange ideas and share views with industry practitioners via a blog. Additional tools and functionality will be added over time.« Fitch: Pension, Accounting, Tax & Regulatory Issues Unlikely to Affect U.S. Media Credit Quality