Lucida breaks new ground

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IRELAND - Lucida is to reinsure an initial €110m (US$160.1m) of Bank of Ireland Life's existing corporate pension annuity business, in the first deal of its kind.

As a company set up to take on longevity risk and corporate pension schemes, under the terms of the agreement Lucida would also take up to €50m (US$72.7m) per year in future annuities for an unlimi...

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