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/C O R R E C T I O N -- Laurentian Bank of Canada/
/C O R R E C T I O N -- Laurentian Bank of Canada/ Canada NewsWire In the news rele...
About this update from Laurentian Bank Of Canada
[{"type":"text","content":"\n\n\n/C O R R E C T I O N -- Laurentian Bank of Canada/\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\nCanada NewsWire\n\n\nIn the news release, Laurentian Bank Purchases Group Annuity Contracts De-Risking Its Pension Plans, issued 09-Jan-2026 by Laurentian Bank of Canada over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:\nLaurentian Bank Purchases Group Annuity Contracts De-Risking Its Pension Plans\n\nMONTRÉAL, Jan. 9, 2026 /CNW/ - Laurentian Bank of Canada (TSX: LB) (the \"Laurentian Bank\", the \"Bank\") today announced the purchase of group annuity contracts from a Canadian insurer that transfers approximately $60 million in obligations and related assets, of its two registered defined benefit pension plans.\n\n\n\n\n\n\n\nUnder the agreement, the insurer will issue annuities covering the responsibility for pension benefits owed to approximately 400 Laurentian Bank retirees, beneficiaries and deferred members, and will begin administering all benefits to these participants beginning April 2026.\nFollowing the transaction, benefits for plan participants will be protected under Assuris, the life insurance compensation association designated under the Insurance Companies Act of Canada. The obligations related to pension benefits for active plan participants remain with the Bank and will continue unchanged.\n\"We are pleased to have reached this agreement which helps ensure that retirees, beneficiaries, and deferred members can receive their benefits from a leading Canadian insurer recognized for its expertise and ability to sustainably manage long-term commitments.\", explain Yvan Deschamps, Chief Financial Officer, Laurentian Bank of Canada.\nGoing forward, the agreement reduces Laurentian Bank's non-operating financial risk and administrative costs further simplifying its operations. TELUS Health, a leading provider of technology-enabled total wellbeing solutions with expertise in pension risk, advised Laurentian Bank on the transaction.\nThis agreement wi...