trending Market Intelligence /marketintelligence/en/news-insights/trending/At8a0R8gBhpmFTjXbZX43w2 content esgSubNav
In This List

Prudential taking $775M in pension obligations from United Technologies

Blog

Banking Essentials Newsletter: 7th February Edition

Blog

Insurance Underwriting Transformed How Insurers Can Harness Probability of Default Models for Smarter Credit Decisions

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Prudential taking $775M in pension obligations from United Technologies

IT systems company United Technologies Corp. is transferring about $775 million of its pension benefit obligations to Prudential Insurance Co. of America.

The transaction is slated to close Oct. 12, when United Technologies buys a group annuity contract from Prudential. The insurer was selected after a "competitive" bidding process for the obligations, according to the company.

About 36,000 retirees and their beneficiaries are covered by the obligations. Prudential already administers benefit payments for the company's retirees.

Prudential Insurance Co. of America is a unit of Prudential Financial Inc.