Prudential (PRU) to Insure Verizon's Pension Liabilities [Yahoo! Finance]
Reinsurance Group of America, Incorporated (RGA)
Last reinsurance group of america, incorporated earnings: 1/28 04:15 pm
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Source: Yahoo! Finance
Inc., along with Reinsurance Group of America, Incorporated RGA. Under this agreement, the companies will settle $5.9 billion of pension liabilities and secure 56,000 Verizon retirees and their beneficiaries who started their benefits prior to Jan 1, 2023. This move bodes well for Prudential's Retirement Strategies business, whose market is expected to grow over time. Prudential has been a leader in the pension risk transfer market, helping companies reduce risks related to pension liabilities, such as interest rate risk, earnings volatility and participant longevity. Prudential completed 11 transactions in 2023 worth approximately $6 billion. It also closed a $5 billion deal with Shell in early 2024. The trend of pension risk transfer is not showing any signs of slowing down, as high interest rates are resulting in favorable funding positions of more than 100%. Prudential expects a healthy pipeline to continue in 2024. RGA and PRU will irrevocably assume and guarantee 50% of the
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RGA
News
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Morgan Stanley from $178.00 to $185.00. They now have an "equal weight" rating on the stock.MarketBeat
- Global Property and Casualty Reinsurance Market Poised for Strong Growth, Reaching USD 718.8 Billion by 2028, Driven by Increased Catastrophic Events and Regulatory Evolutions [Yahoo! Finance]Yahoo! Finance
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $212.00 price target on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Wells Fargo & Company from $193.00 to $210.00. They now have an "overweight" rating on the stock.MarketBeat
- Reinsurance Group of America, Incorporated (NYSE: RGA) had its price target raised by analysts at Evercore ISI from $200.00 to $215.00. They now have an "outperform" rating on the stock.MarketBeat
RGA
Earnings
- 2/1/24 - Beat
RGA
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEF
- 4/8/24 - Form 3
- RGA's page on the SEC website