Reinsurance that removes longevity risk for insurers and pension scheme trustees, providing clients with certainty and security.
The market for longevity reinsurance transactions is increasingly active as insurers and pension schemes seek to better manage their risks. At UK & Ireland Life, we have built a multidisciplinary longevity team with proven experience of executing longevity transactions. The team has expertise in all dimensions of a longevity transaction, including pricing methodologies, operational aspects, legal and structuring and collateral considerations; and works with other teams in the branch to share knowledge and ensure smooth transition of deals into in-force business. The UK longevity team also hold the global mandate for longevity and are responsible for Munich Re’s overall approach to longevity risk across all markets and jurisdictions and work closely with organisational units with the target markets to do so.
The successful execution of longevity transactions requires specialised knowledge and skills in a number of areas. Alongside the actuarial elements, it is also essential to have a team which brings together the risk; legal and operational pieces. In our view, combining this with strong project management oversight is the key to completing transactions in an efficient way. We have demonstrated our ability to execute longevity related transactions on a number of occasions, and we believe we bring substantial capacity; strong counterparty/credit risk; and a pragmatic approach to each opportunity. We have the capability and capacity you require to reduce your longevity risk exposure, whether for an in-force annuity portfolio or an occupational pension scheme. By writing to Munich Re’s Group balance sheet, we help to protect against major losses from longevity risks via capacity management; traditional retrocession and capital market instruments. We can help you to improve your return on capital, free it up to pursue new opportunities or simply reduce the risks within your business.
Our team is always pleased to discuss the ways in which we could help you to manage your longevity risks. Please contact Martin Lockwood, Head of Longevity, by email or phone (+44 20 3650-7554) or navigate to our contact page.