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Mortality rate observations place longevity market in a state of flux: Aon Hewitt

In response to the new Continuous Mortality Investigation (CMI) model, recent reductions seen in national mortality improvements can no longer be regarded as a “blip” and have put the pension longevity swap and reinsurance market into a state of flux, according to Aon Hewitt.The new CMI mortality projections model, CMI_2016, read the full article →

Mortality projection modelling to benefit from CMI evolution: Aon

Aon Hewitt, the talent, retirement and health solutions division of insurance and reinsurance brokerage Aon plc. has expressed support for the continued evolution of the mortality projection model used by the Continuous Mortality Investigation (CMI), citing recent proposed amendments as a positive step.The longevity swap, or risk transfer market has read the full article →

New mortality risk model from WTW to improve longevity prediction

Global advisory, insurance and reinsurance broking firm Willis Towers Watson (WTW) has launched a new mortality risk model, which it says is the first to use medical science and the views of medical experts to improve longevity predictions and improve pricing of re/insurance.PulseModel, as the new mortality risk model is read the full article →

Swiss Re in Vita Capital V mortality cat bond early redemption

Global reinsurance firm Swiss Re has continued its trend of redeeming its series of Vita Capital mortality linked catastrophe bonds, with its $275m 2012 transaction Vita Capital V Ltd. called a year early and investors to be paid a premium of 1%.Swiss Re has regularly redeemed its mortality catastrophe bonds read the full article →

Life reinsurance market may begin to favour more ILS participation

Conditions in the life reinsurance market may begin to favour more participation from alternative capital and insurance-linked securities (ILS) managers and funds, as the consolidated market heightens concerns about counterparty concentration.In recent years the life reinsurance market has been dominated by a few very large global reinsurance players and a read the full article →

Asian mortality protection gap an opportunity for reinsurance & ILS

The burgeoning $58 trillion mortality protection gap impacting Asia was highlighted by reinsurance giant Swiss Re recently, signalling an opportunity for capital providers in the insurance, reinsurance, catastrophe bond and insurance-linked securities (ILS) space.Reinsurer Swiss Re has published a preview and accompanying fact sheet prior to the release of its read the full article →

RGA in $200 billion mortality risk retrocession to Pacific Life

Life reinsurer Reinsurance Group of America Inc. has offloaded a massive $200 billion block of mortality risk associated with in-force individual life reinsurance business to the retrocession operations of Pacific Life Insurance Company.The aim of the transaction for RGA is to free up capital to put to work in other read the full article →

Hannover Re completes capital markets mortality swap

German reinsurance firm Hannover Re has successfully completed a retrocessional transfer of extreme mortality risks to the capital markets, through the placement of an index-linked mortality swap with largely institutional investors.The swap covers extreme mortality scenarios on a multi-year basis, hedging life insurance risks against a sudden and severe increase read the full article →

Potential flaw in UK mortality data may impact longevity re/insurers

A research paper looking at mortality rates in the UK, concludes that there could be errors in the current data provided by the Office for National Statistics (ONS) and suggests that this could lead to basis risk within longevity hedges, swaps or reinsurance transactions.A discussion paper published by the Cass read the full article →

Resolution Life sets up permanent capital structure

Resolution Life, the life focused arm of insurance entrepreneur Clive Cowdery's Resolution Group, has set up a new permanent capital structure which aims to acquire and manage in-force portfolios of life insurance to benefit its institutional investors.Resolution Group was launched in 2008 by Clive Cowdery promising to consolidate the UK read the full article →