AXA scheme uses group company to insure £2.8bn of longevity risk
The trustees of the AXA UK Group Pension Scheme have agreed a £2.8bn longevity swap with Reinsurance Group of America (RGA).
The deal insures the scheme against the risk of approximately 11,000 members, representing half of its liabilities, living longer than expected. The scheme, which closed to future accrual in 2013, used...
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