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ARTICLE · 02 JUNE 2010

Longevity Risk Sector Picks Up Momentum

Barlow Lyde & Gilbert LLP
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In February, Abbey Life, the wholly owned insurance company of Deutsche Bank, announced it had executed the largest-ever longevity insurance transaction, providing BMW (UK) Operations' pension scheme with a hedge for life expectancy risks associated with £3bn pension scheme liabilities relating to 60,000 pensioners.

United KingdomCorporate/Commercial Law
James Parker
James Parker
Kirsty Maclean
Kirsty Maclean
Mike Munro
Mike Munro

In February, Abbey Life, the wholly owned insurance company of Deutsche Bank, announced it had executed the largest-ever longevity insurance transaction, providing BMW (UK) Operations' pension scheme with a hedge for life expectancy risks associated with £3bn pension scheme liabilities relating to 60,000 pensioners.

The BMW transaction follows a year in which the pace of development of the UK longevity risk transfer market has strongly accelerated.

In early 2009, it was announced Abbey Life had concluded transactions with Pacific Life Re and another unnamed reinsurer for the transfer of longevity risks associated with a portfolio of in-payment annuities with underlying liabilities of £1.5bn ($2.25bn).

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