Legal and General Retirement America expects full-year aggregate deal value in the US pension risk transfer market to exceed $50bn, according to the firm’s latest Pension Risk Transfer Monitor.
The third quarter of this year continued the strong pacing from H1, as $14bn of deals were transacted, with IBM’s $6bn deal a notable contributor.
The large end of the market gets most of the attention, but LGRA points to healthy activity in the mid-market when compared to last year.
“There has also been an upward trend in PRT transactions between $500 and $999 million. From what we have seen, the number of transactions in this market segment is close to double what we saw in 2023,” says the firm in the report.
Ultimately, LGRA expects 2024 to finish at levels similar to that of 2022, the US market’s current banner year.
