Life reinsurance
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A dearth of underwriters able to price longevity risk in what has turned out to be a robust year for longevity swaps is stalling the UK market, according to Amy Kessler, senior vice president and head of longevity risk transfer at Prudential.
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The PIC parent has completed a number of longevity swaps.
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The body said it was cautiously optimistic that an outbreak of the virus had been contained to remote areas. -
Private lapse deals are on the rise in the ILS market, driven by Solvency II regulations which require life insurers to hold onto more capital for lapse risk, according to life ILS managers.
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David Horley will work on deal origination, structuring and execution.
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The World Health Organization calls the arrival of Ebola in an urban area “very concerning” although no deaths have been confirmed.
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Canada Life Reinsurance has reinsured a significant proportion of the longevity risk.
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The deal brings total longevity risk volumes between the two parties to £4.4bn.
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Prudential Retirement and Pension Insurance Corporation (PIC) have launched a new process to expedite longevity reinsurance transactions for smaller pension buy-ins and buy-outs.
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Confirmed Lassa fever deaths have risen from 72 to 95 in Nigeria, the World Health Organization (WHO) said, as the figure remains below the level required to trigger a payout under the World Bank's pandemic cat bond.
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Prudential has transferred £12bn in annuity assets to life reinsurer Rothesay Life as part of its demerger of M&G Prudential from Prudential Plc.
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ILS investors are closely monitoring the World Bank's pandemic cat bond, as a partial payment could be triggered if a major outbreak of Lassa fever widens in Nigeria, sources told Trading Risk.
