Swiss Re Insurance-Linked Fund Management

PCS - Emerging Risks, New Opportunities

Accurate measurement of longevity risk of paramount importance


The Pension Protection Fund (PPF), which takes on the pension liabilities of companies which fold has formed a partnership with Club Vita, a provider of analytical services to help pension funds understand and manage their longevity risk.

Club Vita provides services which help companies analyse and quantify the risk of their pension fund members living longer. They work with more than 100 of the largest pension funds in the UK. Understanding longevity risk is vital for funds as they struggle with life expectancy increases and many look to transfer any associated risks to reinsurers and the capital markets.

Martin Clarke, executive director for financial risk at the PPF said “Accurate measurement of this risk is paramount to an effective control environment. The annual monitoring Club Vita provides – covering both our members’ experience and that of Club Vita’s wider subscriber base – will therefore form an important part of the toolkit we use to monitor longevity risks.”

Accurate measurement and a granular understanding of longevity risk will help pension funds ensure they can meet their liabilities, it also alows them to assess risk transfer and longevity hedging opportunities more easily. With the increasing profile of longevity risk transfer we believe companies and funds are tooling themselves with the necessary data before investigating this new area of risk transfer.

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