Nationwide Mutual Insurance Company Commences Participation in BCG’s Monthly Annuity Buyout Pricing Survey
BRAINTREE, MA, February 20, 2024 — Nationwide Mutual Insurance Company (“Nationwide”) is now participating in BCG’s monthly annuity buyout pricing survey, effective this month. Nationwide re-entered the US Pension Risk Transfer (“PRT”) market in 2020. Nationwide, a Fortune 100 company based in Columbus, Ohio is one of the largest and strongest diversified insurance and financial services organizations in the United States. For more than 60 years, Nationwide has assumed liabilities from pension plans, including their current block of more than 450 contracts. With a proven track record with risk management and a personalized service model, Nationwide provides transition simplicity through a team of experts who lead each client through the process from end to end.
Nationwide is rated A+ by Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance.
In total, there are 21 PRT insurers currently active in the market, with thirteen new entrants since 2014 that remain in the market. Of the 21 insurers, 16 are now participating in BCG’s monthly pricing survey. Other participating insurers include American National, Athene, Corebridge Financial, F&G, Legal & General, MassMutual, MetLife, Midland National, Mutual of Omaha, OneAmerica, Pacific Life, Principal, Prudential, Securian Financial and Western & Southern.
BCG uses the rates gathered in its survey to measure and monitor annuity pricing for its clients via its PRT Analysis and Customized Buyout Price Monitoring (“CBPM”) services and also to compile the BCG PRT Index, which is the longest standing pension buyout index in the United States. The Index provides an easy comparison of annuity pricing to various important pension liability measures.
About BCG Pension Risk Consultants | BCG Penbridge
BCG specializes in assisting defined benefit plan sponsors with managing the costs and risks associated with their pension plans. Since 1983, BCG has successfully helped over 2,500 organizations achieve their pension de-risking goals. Our clients range from publicly-traded companies, to privately held firms, and include manufacturing, healthcare, banks and not-for-profit organizations. BCG helps clients with the full range of pension de-risking strategies from liability driven investing approaches to partial or full pension risk transfer, including navigating the complex and lengthy process of plan termination. BCG frequently works in collaboration with financial advisors, consulting actuaries, institutional investment consultants, asset managers and law firms. BCG is headquartered in Braintree, MA with satellite offices across the US. Please visit our website at: www.bcgpension.com.
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