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ARTICLE · 21 SEPTEMBER 2017

Two More Deals For Guernsey's Longevity Risk Market

Guernsey has underlined its position as the go-to jurisdiction for longevity risk transfers with the announcement of two further deals.

GuernseyInsurance

Guernsey has underlined its position as the go-to jurisdiction for longevity risk transfers with the announcement of two further deals.

MMC UK Pension Fund Trustee Limited, the pension fund of Marsh & McLennan Companies, has completed the longevity hedge of £3.4 billion in liabilities – covering around 7,500 pension fund members – using the Guernsey-domiciled incorporated cell company (ICC), Mercer ICC Limited, which is managed by Marsh Captive Solutions.

Mercer advised the pension fund on the transactions which used two cells within Mercer ICC, Fission Alpha IC Limited and Fission Beta IC Limited, to transfer the risk to Canada Life Re and Prudential Insurance Company of America.

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