Reinsurance News

longevity

Bright spots exist but overall, longevity market has more to do on efficiency: Kessler, Prudential

26th April 2019

In certain instances, the efficient management of longevity risk transactions does exist, but as a whole, the marketplace has more work to do throughout the process, from start to finish. This is according to the Head of the Longevity Risk Transfer at Prudential Financial, Inc. in the U.S., Amy Kessler, who ... Read the full article

Prudential completes $2.6bn in longevity reinsurance contracts

24th April 2019

Prudential Retirement has completed approximately $2.6 billion in previously undisclosed longevity reinsurance contracts, assuming the longevity risks of roughly 16,000 pensioners. A division of Prudential Financial, Inc., Prudential Retirement provides retirement plan solutions for public, private, and non-profit organisations. The closing of roughly $2.6 billion in longevity reinsurance agreements highlights the unprecedented ... Read the full article

Aon advises Bank of America Merrill Lynch UK Pension Plan on £400mn buy-in

16th April 2019

Global insurance and reinsurance broker Aon has been named as the adviser for the Trustees of the Bank of America Merrill Lynch UK Pension Plan's recent £400 million (US$523mn) buy-in transaction with Scottish Widows. The buy-in covers all 915 pensioner members in the bank's largest pension scheme, and is the latest ... Read the full article

Favourable conditions suggest record-breaking year ahead for longevity risk transfer: Kessler, Prudential

27th March 2019

Pension funds are continuing to take advantage of favourable longevity risk transfer conditions, and it’s expected that 2019 will be another record breaking year for the market, according to Amy Kessler, Head of the Longevity Risk Transfer, Prudential Financial Inc. of the U.S. Pension funds across the UK, U.S. and Canada ... Read the full article

Munich Re closes longevity swap deal with Lafarge pension scheme

18th February 2019

German reinsurer Munich Re has completed a longevity swap deal with the Trustee of Lafarge UK Pension Plan, the UK pension scheme of French industrial company Lafarge. The arrangement is intended to reduce the Plan’s exposure to longevity risk, which arises when pensioners live longer than expected and thus claim more ... Read the full article

Slowdown of mortality rate improvement crucial to longevity risk takers: Swiss Re

5th December 2018

As it is a risk that cannot be easily diversified or perfectly hedged, governments and private financial institutions exposed to longevity risks should pay close attention to the recent slowdown in life expectancy improvements throughout advanced nations, according to Swiss Re. In its latest Sigma report Swiss Re says that, while ... Read the full article