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A record number of single-premium pension risk transfer (PRT) contracts were sold in 2024, driven by strong sales in the first and third quarters. Overall, 794 contracts sold in the U.S. market, according to LIMRA’s U.S. Group Annuity Risk Transfer Sales Survey.
Total U.S. single-premium PRT premium was $51.8 billion last year, up 14% from 2023, and less than 1% below the record set in 2022, LIMRA said. Fourth-quarter total single-premium PRT premium fell 4% year over year to $12 billion. LIMRA said this aligns with the choppy nature of PRT sales.
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