"In the second half of 2012, there were 72 group annuity placements worth a total of about $34 billion in premium ... There were 40 placements worth a total of about $600 million in the third quarter, and 32 placements worth about $34 billion in the fourth quarter. General Motors executed a large deal for its retirees by initially offering a lump sum and then annuitizing the remainder. On the heels of the GM deal, Verizon annuitized its retirees. These deals were revolutionary in their size, scope and complexity and should be the impetus for other large transactions in the future. Both deals closed in the fourth quarter."