Securian off to fast start in pension risk transfer market
First-year sales near $275 million to date
ST. PAUL, Minn.--(BUSINESS WIRE)--Less than one year after entering the pension risk transfer market, Securian Financial Group has secured nearly $275 million in sales.
“Securian is actively participating in the pension risk transfer market knowing that our financial strength and reputation for service make us a very strong competitor,” said Rick Ayers, Securian’s Retirement Plans division vice president. “Less than a year in, we are pleased with our sales results to date, with more potential deals on the horizon.”
In a pension risk transfer, an insurer assumes payment of an employer’s pension obligations in exchange for an annuity placement from the employer. Pension risk transfer deals are on the rise as more employers struggle to meet defined benefit retirement plan commitments. Securian’s deep expertise in group annuities, the risk transfer instrument, can help bring financial security to an employer’s retirees while eliminating or reducing the employer’s pension liabilities.
“Employers and the consultants they work with on pension risk transfer deals are receptive to Securian’s strong financial ratings* and capital management, as well as our track record of being there for the long run for our customers,” said Ayers. “We anticipate additional wins in the pension risk transfer market as more employers hear our story.”
About Securian Financial Group
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, Securian is the holding company parent of a group of companies that offer a broad range of financial services.
*Securian Financial Group, Inc. is part of an insurance holding group. These ratings are assigned to the following Securian Financial Group, Inc. member companies: Minnesota Life Insurance Company and Securian Life Insurance Company. Minnesota Life and Securian Life are highly rated by the major independent rating agencies that analyze the financial soundness and claims-paying ability of insurance companies. For more information about the rating agencies and to see where we rank relative to other ratings please see our web site at www.securian.com/ratings.
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