Longevity swap activity down £4.8bn in 2012

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The longevity swap market appeared to dry up in 2012, as new business dropped by more than two-thirds, according to data from Legal and General.

The insurer's latest report on the de-risking market found that the two transactions completed last year covered £2.2bn of liabilities, while the five deals agreed in 2011 covered £7bn in liabiliti...

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