Canada Life Reinsurance has entered into a long-term longevity reinsurance agreement with VIVAT covering 70% of €8 billion (€5.5bn) of in-force liabilities.
Subsequently, over 150,000 of in-payment and deferred pensioners are reinsured by Canada Life under the agreement.
“I am pleased to announce this significant reinsurance transaction, which highlights our strength in working effectively with VIVAT to structure a longevity risk solution to efficiently manage their overall risk,” said Jeff Poulin, Global Head of Canada Life Reinsurance.
“This transaction adds to our diverse longevity reinsurance portfolio and demonstrates how, together with Arpian, we create large, complex and unique risk transfer structures backed by our financial strength to benefit our clients.”
