AIG Expands Presence in Pension Risk Transfer Market
American International Group, Inc. (NYSE:AIG), announced that it has further expanded its presence in the pension risk transfer market, after reaching agreement on the two largest plan termination transactions of 2017. The two transactions, entered into by American General Life Insurance Company, part of AIG’s Life & Retirement business, represented over $1.5 billion in pension plan obligations covering more than 24,000 retirees, beneficiaries, deferred and active members.
AIG expects continued growth in 2018 as well as over the longer term in the pension risk transfer market. Ali Vaseghi, Managing Director and Chief Operating Officer – Institutional Markets and leader of the Pension Risk Transfer business, said, “We are seeing significant opportunity in this market, driven by tax reform, repatriation of assets from international operations and improved funded status. AIG’s investment expertise, together with our strong operational capabilities, prudent risk management, disciplined pricing and strong balance sheet, position us well to meet the needs of this growing marketplace, while remaining focused on achieving targeted economic returns.”
Read More: Business Insider
