Life and Longevity Markets Association adds new board execs

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The Life & Longevity Markets Association (LLMA), an organisation established to help promote standards and transparency in the longevity risk transfer and hedging market, has added new executives from AXA and Morgan Stanley to its board.

Mohamed Baccouche, Life Chief Risk Officer at AXA Group and Morgan Stanley’s Mark Teeger, a Managing Director, and Global Head of ALM, have both joined the LLMA’s Board of Directors.

Pretty Sagoo, LLMA Director said; “I’m delighted to welcome Mohammed and Mark to the LLMA’s Board. They bring fresh impetus to the association and our stated aim to achieve greater understanding of and standards in, longevity trading.

“The LLMA has made good progress towards our stated aims over the last five years. We hope that with the help of new members, we will sustain this progress and set the benchmark standards for longevity trading.”

The LLMA was formed in 2010 to promote the development of a liquid trading market in longevity and mortality-related risks. It aims to develop a market akin to insurance-linked securities (ILS) and other large trend risks like interest rates and inflation.

Axa and Morgan Stanley are both founding members of the LLMA, while the other current members include AVIVA, Deutsche Bank, J.P. Morgan, Prudential PLC and Swiss Re.

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