Longevity swaps and longevity risk transfer transactions

The list below shows longevity swaps, longevity risk transfer and longevity reinsurance transactions that have taken place in the reinsurance and capital markets, most recent deals at the top. Details of the cedents, sponsors and the facilitating firms as well as the size of the longevity hedge or reinsurance transaction, as well as links to articles on Artemis covering these longevity deals are included.

This may not be an exhaustive list of longevity swap, longevity risk transfer and longevity reinsurance transactions so please contact us if you know of any others. Read our article: What is longevity risk transfer?

  Fund / Sponsor Provider(s) Solution Size Date Coverage
Canadian Bank Note Company, Limited Canada Life Assurance Longevity swap & reinsurance $35 million Nov 2016 Read more
AXA France RGA Re Longevity swap & reinsurance €1.3 billion Nov 2016 Read more
Unnamed defined benefit pension scheme Zurich / Pacific Life Re Longevity swap & reinsurance £50 million Oct 2016 Read more
Two Pirelli pension plans Zurich / Pacific Life Re Longevity swap & reinsurance £600 million Aug 2016 Read more
Manweb (ScottishPower) Abbey Life Longevity swap £1 billion Aug 2016 Read more
Legal & General Prudential Longevity reinsurance ? Aug 2016 Read more
Pension Insurance Corp. Prudential Insurance Company of America Longevity reinsurance $1.1 billion Jun 2016 Read more
Legal & General Prudential Longevity reinsurance ? Apr 2016 Read more
Unnamed UK pension plan Zurich / Pacific Life Re Longevity swap & reinsurance £90 million Dec 2015 Read more
RAC (2003) Pension Scheme SCOR SE Longevity swap & reinsurance $900 million Nov 2015 Read more
Philips UK Pension Fund Pension Insurance Corp. & Hannover Re Buyout & longevity reinsurance £2.4 billion Nov 2015 Read more
Scottish & Newcastle Pension Plan Friends Life (plus Swiss Re) Longevity swap & reinsurance £2.4 billion Sep 2015 Read more
Legal & General Prudential Longevity reinsurance $2.9 billion Aug 2015 Read more
Aegon Canada Life Re Longevity swap & reinsurance €6 billion Jul 2015 Read more
AXA UK Pension Scheme RGA Re Longevity swap £2.8 billion Jul 2015 Read more
Pension Insurance Corp. Prudential Insurance Company of America Longevity reinsurance £1.6 billion Jun 2015 Read more
Delta Lloyd RGA Re Index-based longevity derivative (swap) €12 billion Jun 2015 Read more
Pension Insurance Corp. Prudential Insurance Company of America Longevity reinsurance £? Apr 2015 Read more
Bell Canada Pension Plan (BCE Inc.) Sun Life Financial Inc. (plus SCOR & RGA Re) Longevity swap & reinsurance CAD$5 billion Mar 2015 Read more
ScottishPower Abbey Life Longevity swap £2 billion Feb 2015 Read more
Rothesay Life Prudential Longevity reinsurance $450m Jan 2015 Read more
MNOPF Pacific Life Re Longevity swap & reinsurance via incorporated cell £1.5 billion Jan 2015 Read more
Rothesay Life Pacific Life Re Longevity reinsurance £1 billion Dec 2014 Read more
Legal & General Prudential Longevity reinsurance $2.2 billion Oct 2014 Read more
Delta Lloyd RGA Re Index-based longevity derivative (swap) €12 billion Aug 2014 Read more
Phoenix Group Phoenix Life Longevity swap with simultaneous quota share reinsurance £900m Aug 2014 Read more
Rothesay Life Prudential Longevity reinsurance transaction £1 billion ($1.7 billion) Aug 2014 Read more
AXA France Hannover Re Longevity swap EUR750m Aug 2014 Read more
BT Pension Scheme Prudential Insurance Company of America Pensioner bespoke longevity swap £16 billion Jul 2014 Read more
Total UK Pension Plan Pension Insurance Corporation / Hannover Re Buy-in and longevity reinsurance transaction £1.6 billion Jun 2014 Read more
Royal London RGA International Reinsurance Co. Longevity reinsurance transaction £1 billion May 2014 Read more
AkzoNobel Legal & General / Prudential Buy-in, bulk annuity and longevity reinsurance £3.6 billion Mar 2014 Read more
Aviva Swiss Re / Munich Re / SCOR Pensioner bespoke longevity swap £5 billion Mar 2014 Read more
BAE Systems Legal & General Pensioner bespoke longevity swap £1.7 billion Dec 2013 Read more
Astra Zeneca Deutsche Bank / Abbey Life Pensioner bespoke longevity swap £2.5 billion Dec 2013 Read more
Carillion Deutsche Bank / Abbey Life Pensioner bespoke longevity swap £1 billion Dec 2013 Read more
Aegon Société Générale CIB / SCOR Longevity swap to capital market investors and reinsurers €1.4 billion Dec 2013 Read more
Pension Insurance Corporation Reinsurers Longevity reinsurance £1.4 billion Nov 2013 Read more
Philips Pension Fund Rothesay Life Pension insurance including longevity risk £0.484 billion Oct 2013 Read more
Cobham plc Rothesay Life Bulk annuity and longevity insurance £280m Aug 2013 Read more
EMI Group Pension Fund Pension Insurance Corpration Buy-out of all liabilities including longevity risk £1.5 billion Jul 2013 Read more
Canadian Wheat Board Sun Life Assurance Company of Canada Annuity buy-in and asset transfer $150m Jun 2013 Read more
Bentley Deutsche Bank / Abbey Life Pensioner bespoke longevity swap £0.4 billion May 2013 Read more
Abbey Life / Rothesay Life Hannover Re Longevity reinsurance transaction £1 billion Apr 2013 Read more
BAE Systems Legal & General / Hannover Re Pensioner bespoke longevity swap £3.2 billion Feb 2013 Read more
LV= Swiss Re Pensioner and all members over age 55 longevity swap £0.8 billion Dec 2012 Read more
Pension Insurance Corporation Munich Re Longevity reinsurance transaction £0.4 billion Dec 2012 Read more
Verizon Prudential Pension liability buy-out $7 billion Oct 2012 Read more
Pension Insurance Corporation Munich Re Longevity reinsurance transaction £0.3 billion Jul 2012 Read more
General Motors Prudential Pension liability buy-out $26 billion Jun 2012 Read more
AkzoNobel Swiss Re Pensioner bespoke longevity swap £1.4 billion May 2012 Read more
Aegon Deutsche Bank Capital markets longevity swap €12 billion Feb 2012 Read more
Pilkington Legal & General / Hannover Re Pensioner bespoke longevity swap £1 billion Dec 2011 Read more
British Airways Goldman Sachs / Rothesay Life Pensioner bespoke longevity swap £1.3 billion Dec 2011 Read more
Rolls Royce Deutsche Bank / Abbey Life Pensioner bespoke longevity swap £3 billion Nov 2011 Read more
ITV Credit Suisse Pensioner bespoke longevity swap £1.7 billion Aug 2011 Read more
Pall JP Morgan Non-pensioners index based longevity hedge £0.1 billion Feb 2011 Read more
British Airways Goldman Sachs / Rothesay Life Synthetic buy-in (longevity swap plus asset swap) £1.3 billion Jul 2010 Read more
BMW Deutsche Bank / Abbey Life Pensioner bespoke longevity swap £3 billion Feb 2010 Read more
Berkshire County Swiss Re Pensioner bespoke longevity swap £1 billion Dec 2009 Read more
RSA Insurance Goldman Sachs / Rothesay Life Synthetic buy-in (longevity swap plus asset swap) £1.9 billion Jul 2009  
Babcock Credit Suisse Pensioner bespoke longevity swap (three schemes) £0.5 billion May 2009 Read more
Canada Life (UK arm) JP Morgan Pensioner bespoke longevity swap £0.5 billion Sep 2008 Read more
Lucida JP Morgan Index linked longevity derivative ? Feb 2008  

Read our article: What is longevity risk transfer?

Keep up with the latest longevity risk transfer news on Artemis.














Jardine Lloyd Thompson Capital Markets