Legal & general retirement america and rga partner to complete $700 million pension risk transfer transaction with firstenergy

Stamford, conn.--(business wire)--legal & general retirement america (lgra), a division of banner life insurance company, and reinsurance group of america, incorporated (nyse:rga) announced today they completed a pension risk transfer (prt) transaction with firstenergy, one of the nation's largest investor-owned electric utilities, for approximately $700 million. the retiree lift-out was executed in december and covers approximately 2,000 retirees – representing about 8% of the company's to.
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