Swiss Re may leverage third-party capital in Admin Re unit

Reinsurance firm Swiss Re is considering allowing third-party capital sources to enter its Admin Re unit in some form, according to comments made at the reinsurers recent investor day. The reinsurer would consider allowing third-party capital providers to participate in a transaction to buy new blocks of life business. The Admin read the full article →

Potential growing for life insurance-linked securitization: S&P

You'd be forgiven for thinking that the insurance-linked securities market was only about catastrophe risk securitization if you looked at our Deal Directory and in recent months it has been. However, according to panelists at ratings agency Standard & Poor's recent Insurance 2012 Conference there's life in life insurance-linked securitization read the full article →

Swiss Re selling its Admin Re business in the U.S.

Reinsurer Swiss Re has announced that it is going to sell off its U.S. Admin Re® business for $600m in cash as it seeks to unlock capital that is tied up in it. Total cash proceeds from the sale will be $900m after a pre-closing dividend. Admin Re provides risk read the full article →

Clariden Leu / LGT team planning two new insurance-linked strategy funds

Michael Stahel and his portfolio management team, who currently manage insurance-linked securities funds for Swiss based investment manager and private bank Clariden Leu but are soon to move to their new home at LGT Capital Management, are planning to launch two new insurance-linked strategy funds in response to demand from read the full article →

Berkshire pension fund seeks second longevity hedge transaction

The UK's Royal County of Berkshire pension fund, who completed their first longevity hedge with Swiss Re back in December 2009, are looking to repeat the experience and have issued a request for proposals for a second longevity hedge. The 2009 transaction was the first time a public sector pension read the full article →

IMF highlights government and pension fund exposure to longevity risk, recommends hedging

The International Monetary Fund has published a chapter of its Global Financial Stability Report which discusses 'The Financial Impacts of Longevity Risk'. In it they warns that the U.S. and other governments need to acknowledge the size of the longevity risks they are facing, put in place mechanisms for improved read the full article →

Pension risk transfer market to hit records for 2011

2011 could be a record year for pension scheme risk transfer deals as the desire to de-risk or offload risks including longevity grows among pension fund managers. So far 2011 has seen significant volumes in the pension buy-in and buy-out arena and also longevity swaps. By the end of 2011 read the full article →

Prudential completes $723m longevity reinsurance transaction

Prudential Retirement has announced the completion of their largest longevity reinsurance transaction to date, helping them to sustain expansion of their pension risk transfer business. The $723m (UK£450m) deal saw Prudential provide reinsurance of longevity risk to Rothesay Life and sister company Paternoster (both Goldman Sachs subsidiaries). “We are pleased to read the full article →

L&G in record £1.1 billion pension buy-out, also buys longevity reinsurance

Legal & General, one of the largest insurance and financial services groups in the UK, has entered into the largest buy-out of a pension schemes liabilities through a £1.1 billion ($1.8 billion) bulk annuity contract with the T&N Retirement Benefits Scheme trustees. The transaction is actually a buy-in which transitions read the full article →

Swiss Re quantifies Canadian longevity risk in new report

A new Swiss Re Economic Research & Consulting report reveals that Canadian pension funds have a significant amount of longevity risk to which they are exposed. Many public and private pension funds are under-reserved for longevity risks and annuity books also have exposure to the risk of scheme members living read the full article →