WTW advises on CA$923 million annuity transaction for Ford of Canada involving RBC Insurance, Sun Life and Desjardins Insurance
February 21, 2024
TORONTO, February 20, 2024 – WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, in collaboration with RBC Insurance, Sun Life and Desjardins Insurance, today announced a group annuity buy-out transaction of CA$923 million for over 2,700 members of the Ford of Canada Retirement Pension Plan Number 3 who retired on or prior to June 1, 2021.
Brent Simmons, Head of Defined Benefit Solutions at Sun Life, added “The Ford transaction demonstrates the ability of insurers in the Canadian annuity marketplace to collaborate on insurance solutions that provide increased benefit security and peace of mind for annuitants.”