longevity risk transfer

The MMC UK Pension Fund has entered into a £2 billion longevity swap and reinsurance arrangement with Munich Re, its first swap to include active members, via a captive Guernsey insurance cell.

The BT Pension Scheme has entered into a UK £5 billion longevity swap arrangement with Reinsurance Group of America (RGA Re), using its captive insurer to intermediate the reinsurance capital.

Zurich and Prudential Financial, Inc. have combined to deliver a £1.7 billion pension longevity swap and reinsurance risk transfer arrangement for the UK’s Nationwide Pension Fund.

Global insurer Zurich and life, longevity and annuity focused reinsurance firm Pacific Life Re have delivered a £1.6 billion longevity swap arrangement for the UK’s Yorkshire and Clydesdale Bank (YCB) Pension Scheme.

Brokerage and consultancy WTW is forecasting a busier year for the longevity swap market in 2023, with increasing reinsurance capacity and market participants available and attracted to longevity risk transfer a driver.

Reinsurance Group of America (RGA) has completed a new US $1.7 billion longevity risk transfer arrangement that featured a swap and reinsurance provision for Cincinnati-based diversified financial services and life insurance specialist Western & Southern Financial Group.

Prudential Financial, Inc. of the United States has provided reinsurance to back a £7 billion longevity swap and risk transfer arrangement for the Barclays Bank UK Retirement Fund, a pension scheme and fund managing assets on behalf of UK employees of the bank.

Global reinsurer SCOR and insurer Zurich have both participated in the completion of a £1.7 billion longevity swap and reinsurance arrangement for a UK pension fund.

Bermuda-based reinsurance firm PartnerRe and Zurich, the global insurance carrier, have backed a £1 billion longevity swap transaction for a UK pension scheme sponsored by a Fortune 500 firm.

The UBS (UK) Pension and Life Assurance Scheme has added another £500 million to an in-force longevity swap arrangement, expanding it to provide £1.9 billion of protection.