RiskFirst’s PFaroe extends its reach as Athene helps pension plan
sponsors seeking to optimize pension buyout transaction economics
NEW YORK–(BUSINESS WIRE)–Athene, a rapidly growing pension annuity provider in the U.S., has
adopted RiskFirst’s pension risk analytics and reporting platform,
PFaroe, to enhance their monitoring capabilities for plan sponsors.
Athene will use PFaroe’s on-demand liability and transaction price
monitoring services to help plan sponsors evaluate risk, enabling those
considering purchasing an annuity to transact at the optimal time.
As the pension risk-transfer market undergoes significant growth – a
trend expected to continue during 20191 – providing
innovative, efficient, effective tools to enable plan sponsors to make
the best financial decisions is becoming increasingly important.
Sean Brennan, Head of Pension Risk Transfer (PRT), Athene, says: “We see
real value in moving from monitoring liabilities and insurance prices on
an ad hoc basis to a more frequent – even daily – basis. Through PFaroe,
plan sponsors will have up-to-date financial metrics and data, and a
robust set of analysis at their fingertips, allowing them to evaluate
the attractiveness of insurance pricing against those key financial
metrics quickly and easily.”
PFaroe’s forecasting capabilities also provide the opportunity for plan
sponsors to consider both the immediate and the long-term impact of
market changes and strategic decisions on their plan.
Brennan adds: “There is growing interest from clients in maximizing
their ability to make informed decisions when it comes to hitting
targeted financial metrics. We have entered into this partnership with
RiskFirst as we are committed to investing in innovative technology to
address these needs and bring added value to our clients.”
Matthew Seymour, CEO of RiskFirst, comments: “Athene, as a pension
annuity provider, represents an entirely new client type for us, and
PFaroe perfectly aligns with their approach: helping clients to
understand risks and optimize buyout decisions. Through its powerful,
expanding capabilities, PFaroe is extending its reach and cementing its
position as the tool of choice across the pension risk management space.”
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About Athene Holding Ltd.
Athene, through its subsidiaries, is a leading retirement services
company that issues, reinsures and acquires retirement savings products
designed for the increasing number of individuals and institutions
seeking to fund retirement needs. Athene is a leader in the pension risk
transfer industry, managing pension payments for more than 90,000
annuitants. During 2018, Athene closed seven pension risk transfer
transactions totaling more than $2.6 billion.
Further information can be found at www.athene.com/prt.
About RiskFirst
RiskFirst is a financial technology company providing modern
technology solutions to Asset Owners, Consultants, Insurers and Asset
Managers to help grow and improve their business. Its core product
PFaroe® is web-based, available anytime and anywhere, and allows users
to evaluate risk from multiple perspectives and to perform real-time
scenario stress testing. Initially targeted to defined benefit pension
plans, it is now the market leader in the UK and the US. Over 3,000
plans with more than $1.4tn in assets are now modeled on the PFaroe
platform. RiskFirst has also recently launched a global fixed income
attribution solution, which recognizes the differing objectives,
timeframes and opportunity set of each user.
For more information please go to www.riskfirst.com.
Contacts
Anna Sharrock
London
+44 7811 758964
