longevity insurance

The smallest longevity swap deal that we’ve seen has been completed, according to an article on Professional Pensions today. The £400m longevity risk transfer deal hedges the risk of pensioners living longer for luxury car manufacturer Bentley’s UK pension scheme. The size of the deal shows that longevity swaps can be transacted for smaller pension […]

German reinsurer Hannover Re has completed two block reinsurance transactions for longevity risks in the UK which between them will see the reinsurer assume around £1 billion worth of pension plan longevity risks. This brings the total amount of longevity risk assumed by the reinsurer in 2013 to around £3 billion when added to its […]

UK insurance and investment group Legal & General has completed the largest ever UK longevity swap with the BAE Systems 2000 Pension Plan. The insurance transaction between the two covers the BAE pension plan against the risk of its 31,000 current pensioners living longer than expected, covering a total of £2.7bn of pension liabilities as […]

The world’s largest reinsurer Munich Re has entered into an agreement with pension risk transfer specialist Pension Insurance Corporation which will see Munich Re take on £400m (approximately $650m) of longevity risk from the insurer. Munich Re will take on the longevity risk associated with a portfolio of pension risks that Pension Corporation has covered […]

Reinsurer Swiss Re has announced the completion of an £800m ($1.3 billion) longevity insurance transaction with UK insurer LV=. The transaction see’s Swiss Re providing longevity insurance for over 5,000 members of the LV= pension fund and includes the longevity exposures associated with 1,000 members who are yet to retire. Swiss Re said that this […]

Reinsurer Swiss Re has announced the completion of a £1.4 billion longevity insurance transaction for one of AkzoNobel’s UK pension funds. The collateralised re/insurance deal was written through Swiss Re subsidiary ReAssure Ltd. The transaction covers 17,000 individuals and their future contingent beneficiaries who were members of the AkzoNobel Pension Scheme at the 1st August […]

Airline British Airways has managed to offload £1.3 billion of longevity risk through what they called a ‘longevity swap, under an insurance contract’, with Rothesay Life. In June 2010 the same two parties completed a similar transaction for £1.3 billion, which at the time was said to cover 20% of the British Airways schemes pensions […]