longevity hedge


UBS pension gets £1.4bn longevity swap from Zurich & Canada Life Re

The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4 billion longevity swap arrangement, with global player Zurich acting as the insurer for the transaction and Canada Life Re providing reinsurance capital. The longevity swap arrangement covers roughly £1.4 billion of the UBS pension schemes defined benefit (DB) read the full article →

Munich Re provides £1bn longevity swap for Willis Pension Scheme

Global reinsurance giant Munich Re has completed a £1 billion longevity swap arrangement for the Willis Pension Scheme, in a longevity hedging deal that covers some 3,500 pension scheme members. The transaction was undertaken using the Longevity Direct solution offered by Willis Towers Watson, which enables pensions to more directly access read the full article →

Aon warns pensions not to over-react to Covid-19 mortality spike

Insurance and reinsurance broker and consultancy Aon has warned UK pension schemes not to over-react to the recent short-term spike in mortality rates in the country, as the impact to longevity risk assumptions may not be as significant as it seems. Aon’s Risk Settlement Group, which deals with pension risk transfer, read the full article →

Canada Life Re took EUR 5.3bn of NN Life longevity swap & reinsurance

Canada Life Reinsurance took EUR 5.3 billion of the long-term longevity risk associated with EUR 13.5 billion of in-force liabilities of NN Life's portfolio, in the recently completed longevity swap and reinsurance arrangement. As we explained earlier this week, NN Life, part of the Nationale-Nederlanden (NN Group), has secured longevity swap read the full article →

NN Life transfers EUR 13.5bn of pension longevity risk to reinsurers

NN Life, part of the Nationale-Nederlanden (NN Group), has secured reinsurance and swap arrangements with leading reinsurers Canada Life, Munich Re and Swiss Re to transfer all of the longevity risk associated with some EUR 13.5 billion of pension liabilities from the Netherlands. NN Group said that the longevity reinsurance arrangements read the full article →

NN Life gets index-based longevity hedge from Hannover Re

NN Life, part of the Nationale-Nederlanden (NN Group), has entered into an index-based longevity hedge transaction with reinsurance firm Hannover Re, in a deal covering the insurer against longevity trend risk associated with around EUR 3 billion of its liabilities. The transaction was facilitated by adviser to NN Group Longitude Solutions read the full article →

Canada Life Re provides reinsurance for Aegon’s €6bn longevity hedge

The €6 billion longevity risk transfer hedge completed recently by Dutch headquartered life, pensions and annuities focused insurer Aegon, which Artemis covered here yesterday, was supported by reinsurance capacity from Canada Life Re. The transaction, which is the first 40% of a €15 billion longevity risk transfer package deal, was completed read the full article →

Aegon completes third Dutch longevity hedge, covers €6bn of liabilities

Dutch headquartered life, pensions and annuities focused insurer Aegon has completed its third longevity risk transfer transaction, hedging €6 billion of longevity reserves in the Netherlands to further reduce its exposure to longevity improvements. Previously Aegon has hedged and secured reinsurance for its longevity risk through a €12 billion longevity swap read the full article →

Longevity swap sponsors can halve deal costs with own re/insurers

Pension fund sponsors of longevity swaps can as much as halve the transaction costs by establishing their own special purpose insurance or captive vehicle, or using a service provider, in order to more directly access sources of longevity reinsurance capital. In the past a longevity swap transaction typically saw the pension read the full article →

MNOPF in £1.5 billion direct longevity hedge to Pacific Life Re

The UK's Merchant Navy Officers Pension Fund (MNOPF) has completed a direct longevity hedge or swap transaction with £1.5 billion of its members longevity risk ultimately being reinsured by life and longevity focused reinsurance firm Pacific Life Re. The trustee of MNOPF has followed a recent trend of establishing its own read the full article →