John Towner is joining UK insurer, pension risk transfer and longevity re/insurance specialist Legal & General to head up origination for the firm’s pension risk transfer and longevity insurance or reinsurance activities.
Towner joins L&G from investment consultancy Redington, where he advised pension funds and sponsors of pension funds on investment strategies and pension risk hedging.
The new role at L&G puts Towner as the Head of Origination covering pension buy-out’s, buy-in’s and longevity re/insurance activities at the insurer.
Legal & General is the leading UK provider of pension de-risking solutions, providing pension funds with buy-in, buy-out and annuity solutions and increasingly taking on longevity risks as well, through provision of insurance or reinsurance capacity.
The UK has the most buoyant longevity risk transfer and hedging market, making this a core area for the insurer as pension funds increasingly look for solutions to reduce or entirely hedge away their longevity risks.
L&G has both provided longevity swap capacity and sought longevity reinsurance capacity itself as well. Five transactions in our directory of longevity swap and longevity reinsurance deals have involved the insurer.
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