US bulk annuities market hits $6bn total volume for Q1 2023

Written by Adam Cadle

18/05/2023

The US bulk annuities market is expected to finish Q1 2023 with around $6bn in total market volume and surpass last year's record of $5.3bn, according to Legal & General Retirement America's (LGRA) Q1 2023 Pension Risk Transfer (PRT) Monitor.

LGRA said it was the largest first quarter on record.

The first half of 2023 may also set another record with an estimated $23bn in transactions - compared to the past H1 record of $17.6bn in 2022.

“While the first quarter is generally quieter than the rest of the year, the fact that we’re seeing an increase in Q1 volume year-over-year demonstrates the consistent growth of the US PRT market as a whole," Sheena McEwen, VP, head of distribution at LGRA, said.

"It’s an exciting time for the industry as de-risking solutions continue to gain traction with plan sponsors.”

There are no related documents to show at this time.

Portfolio optimisation in today’s challenging market environment

Adam Cadle speaks to Dr Laura Ryan, Head of Research at Ardea Investment Management, about the firm’s insurance asset allocation optimisation tool and the reasons for developing it

The role ETFs can play in the ESG journey for insurers

Justin Wheeler, Head of UK iShares Asset Owner Distribution at BlackRock, and Mark Guirey, Head of EMEA Insurance Segment and UK Asset Owner Client Coverage at MSCI, discuss the drivers behind growth in this area, market reactions to COVID-19, and the role of indexing