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ARTICLE · 02 FEBRUARY 2018

The Guernsey ICC Longevity Risk Transfer

Guernsey Finance
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Also this year, British Airways' Airways Pension Scheme is reportedly using its Guernsey captive structure, APS Insurance ICC Limited, to hedge £1.6 billion of liabilities.

GuernseyInsurance
Kate Storey
Kate Storey
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2017 has seen Guernsey underline its position as the go-to jurisdiction for longevity risk transfers with the announcement of two further deals, following on from the first ground-breaking deals using the Guernsey 'Incorporated Cell Company' (ICC) in 2014/2015. In IFC Review's Guernsey 2018 supplement, Appleby Partner Kate Storey discusses longevity risk and the merits of the Guernsey ICC.

In summer this year, MMC UK Pension Fund Trustee Limited, the pension fund of Marsh & McLennan Companies, completed the longevity hedge of £3.4 billion in liabilities – covering around 7,500 pension fund members – using the Guernsey-domiciled ICC, Mercer ICC Limited.

Also this year, British Airways' Airways Pension Scheme (APS) is reportedly using its Guernsey captive structure, APS Insurance ICC Limited, to hedge £1.6 billion of liabilities.

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