Longevity reinsurance news

Pension Insurance Corporation (PIC), a specialist provider of insurance and risk transfer solutions for defined benefit pension funds, announced today that it has recently acquired reinsurance to cover £1.4 billion of its own longevity exposure.

Pension Insurance Corporation, a UK-based specialist provider of insurance solutions for defined benefit pension funds, has announced the completion of a pension buy-in transaction for UK children’s charity the National Society for the Prevention of Cruelty to Children (NSPCC). The transaction protects the NSPCC pension scheme from risks such as longevity, inflation and investment on […]

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 […]

According to an article published on Dow Jones, and available here via the Wall Street Journal, the market for longevity risk transfer through the issuance of bonds or securitization may be about to come out of hibernation. The article says that two longevity bonds are currently being marketed to investors by banks in recent weeks […]

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 […]

The results of a poll conducted in July 2012 amongst trustees, finance directors, and other pension fund executives from 51 different UK pension funds, show that the pension funds consider longevity risk as the biggest single threat to their funding levels. Respondents were asked to rank a series of risks according to potential for impact […]

Artemis attended the 6th Annual European Insurance-Linked Securities Conference, held by rating agency Standard & Poor’s in London, earlier today to hear what the speakers had to say about the market. One of the panels was particularly timely as it discussed the potential for further development of the longevity risk transfer market and asked the […]

This telling statistic comes from some research undertaken by PwC which looked at defined benefit pension plan valuations in the UK and what they were doing, or planning to do, to overcome rising deficits. PwC surveyed 98 UK defined benefit pension schemes and found that on average they will likely need an extra three years […]