Timken Company to Purchase Group Annuity from The Prudential Insurance Company of America for Retiree Pension Benefits
Posted on Jan 22, 2015 (6 days ago)
[PR Newswire] - In April, Prudential will begin paying benefits to certain retirees and surviving beneficiaries currently receiving payments from The Timken Company's U.S. retirement plan. Over the past decade, the company has contributed nearly $2 billion to its global pension plans, and its U.S. plans are now fully funded. This stewardship allows the company to take advantage of the favorable funded status in an effort to reduce risk and protect participant pension benefits going forward.
U.S. regulators pledge more openness in picking risky firms
Posted on Jan 21, 2015 (7 days ago)
[Reuters] - Staff launched a number of proposals at a meeting of the Financial Stability Oversight Council (FSOC), a group of regulators that acts to identify which parts of the financial system are "too big to fail" and would threaten the overall system if they landed in trouble. The proposals would change some of the procedures under which the council singles out financial firms as "systemically important," and in need of closer regulatory scrutiny by the Federal Reserve. "The intent of these proposed changes is to let companies know as soon as possible where they stand," said Patrick Pinschmidt, the FSOC's deputy assistant secretary. The FSOC said it will consider changes to tell firms at an earlier stage when they are being weighed for designation, and also to tell the broader public sooner in the process which firms it had in its cross-hairs.
Prudential Real Estate Investors closes more than $11 billion in 2014 global transactions
Posted on Jan 20, 2015 (9 days ago)
[Business Wire] - Prudential Real Estate Investors completed more than $11 billion in global transactions in 2014, including 77 transactions in Europe totaling approximately $4 billion, the firm’s most ever in one year in the region, the company announced today.
New Survey Quantifies Broad Economic Impact of Investments in Newark Small Businesses
Posted on Jan 15, 2015 (13 days ago)
[Business Wire] - The Initiative for a Competitive Inner City released a new study that found that if six major Newark anchor organizations collectively increased their procurement from local small businesses from two to 10 percent, an additional $33 million would flow into the city’s local businesses annually.
Prudential Retirement completes fifth reinsurance transaction with Rothesay Life
Posted on Jan 14, 2015 (15 days ago)
[Business Wire] - Prudential Retirement, a business unit of Prudential Financial Inc. , announced today its fifth longevity reinsurance transaction since 2011 with Rothesay Life Limited and its affiliates.
[at The Wall Street Journal] - The lawsuit challenging its designation as being “systemically important” is the biggest test yet for regulators responsible for protecting the U.S. financial system from another crisis.