$60B transferred to insurers since 2008

The Canadian pension risk transfer (PRT) market has reached a significant milestone in 2024, transacting over $60 billion of Canadian defined benefit (DB) pension plan assets since 2008, the year our Defined Benefit Solutions team was created.

This remarkable achievement is a testament to the market's evolution and growth. Before 2013, the group annuity market was relatively small, with transactions amounting to around $1 billion per year, and almost exclusively for DB plans in their termination process. The market has seen tremendous growth since then, with total transactions reaching just shy of $8 billion in 2023.

Brent Simmons, Senior Vice-President & Head, DB Solutions, has over 16 years' experience navigating the dynamic Canadian PRT market. Brent’s team of pension professionals focuses on education and innovative solutions that help DB plan sponsors solve their pension challenges. Watch a short video for more information on this important milestone and what it means for the Canadian market.