Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Swiss Re Closes £800 Mln Longevity Insurance Contract With LV='s UK Pension Fund

Swiss Reinsurance Co. or Swiss Re (SSREY.PK) has completed a 800 million pounds or $1.3 billion longevity insurance contract with the pension fund of UK insurer LV=. The transaction includes insurance of longevity exposures for 1,000 members who are still to retire.

The reinsurer's latest longevity insurance agreement covers more than 5,000 individuals who were members of the LV= Employee Pension Scheme as of December 31, 2011. The deal covers a broader population than previous pension market longevity transactions, extending beyond in payment pensioners to also cover members not yet retired down to age 55.

Swiss Re added that the contract extends its longevity reinsurance track record to more than $12 billion.

Click here to receive FREE breaking news email alerts for Swiss Re Ltd. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved sharply lower over the course of the trading day on Wednesday, adding to the modest weakness seen in the two previous sessions. With the losses on the day, the major averages fell to their lowest closing levels in over a month. Democrats have climbed into the lead on a generic ballot, according to the results of a new CNN/ORC International poll, although the results may not be as positive for the party as they first appear. With spending on private and public construction both showing notable decreases, the Commerce Department released a report on Wednesday showing an unexpected drop in U.S. construction spending in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.