Welcome to the Prudential Financial, Inc. (PFI) Workshop 2016
An Opportunity to De-risk in Today’s Low Interest Rate Environment
Thursday, 01 December 08:30 - 09:30
Pension plan sponsors are well aware of the 15-year storm of investment headwinds, putting their funding level under continuous pressure. With regulatory oversight and increasing longevity risk, many companies with defined benefit plans are now looking to de-risk.
Although liability-driven investments and other strategies might mitigate risk while keeping pension plans on balance sheets, there are other innovative options that can provide a more final solution.
Pension risk transfer is a strategy that companies can use to mitigate all or part of the risks associated with their pension fund. It’s also an option available to both fully-funded and underfunded schemes. For those plans that need to top up funding to participate in pension risk transfer, the opportunity to borrow at attractive rates makes this a viable option.
This session will present case studies of a number of companies that have used these strategies to de-risk their pension plans recently, including ones that have simultaneously de-risked in four or more jurisdictions.
|Amy Kessler is senior vice president and head of Longevity Risk Transfer within Prudential's Pension Risk Transfer business.
In 2011, she led Prudential's successful launch of its longevity reinsurance product, closing nearly $40 billion in international reinsurance transactions since. Before joining Prudential, she was a principal at Bear Stearns and as Global Head of Pension ALM at Swiss Re in London.
|William McCloskey leads product-related activity in longevity reinsurance transactions at Prudential. In 2015 he played a leading role in winning and closing four separate annuity blocks, together exceeding £5 billion ($7.5 billion) in assets.
McCloskey originally joined Prudential in 1996 and has held various positions in Prudential Retirement and Prudential Investment Management, gathering expertise emphasizing structured financial transactions.
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