Athene Holding Ltd., one of Bermuda’s leading retirement services companies, has become the first insurer to adopt PFaroe, the pension risk analytics and reporting platform from RiskFirst.
Using PFaroe’s on-demand liability and transaction price monitoring services, Athene plans to help sponsors evaluate risk and purchase annuities at the optimal time.
“We see real value in moving from monitoring liabilities and insurance prices on an ad hoc basis to a more frequent – even daily – basis,” said Sean Brennan, Head of Pension Risk Transfer (PRT) at Athene.
“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.”
The forecasting capabilities of PFaroe 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 continued: “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, also commented: “Athene, as a pension 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,” he added.
