Legal & General Retirement America and RGA Partner to Complete $700 Million Pension Risk Transfer Transaction with FirstEnergy

STAMFORD, Conn.--(BUSINESS WIRE)--Legal & General Retirement America (LGRA), a division of Banner Life Insurance Company, and Reinsurance Group of America, Incorporated (NYSE:RGA) announced today they completed a pension risk transfer (PRT) transaction with FirstEnergy, one of the nation’s largest investor-owned electric utilities, for approximately $700 million. The retiree lift-out was executed in December and covers approximately 2,000 retirees – representing about 8% of the company’s to