Longevity swap news

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.

Longitude Exchange, the Bermuda-based digital marketplace for trading in index-based longevity risk, and Dedomainia, a technology company offering longevity swap solutions, are to collaborate on index-based longevity hedging.

Longevity analytics firm, Club Vita has partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital marketplace for trading in index-based longevity risk, to improve both the transparency and efficiency of the longevity risk transfer market.

A world-first digital marketplace for trading in index-based longevity risk is set to open in Bermuda, insurtech Longitude Exchange announced today.

Reinsurance Group of America (RGA) has completed a longevity reinsurance transaction with NN Life covering €4 billion of underlying reserves for the largest life insurance company in the Netherlands.