NN Life has completed a €13.5bn (£12.1bn) longevity transaction covering a portfolio of annuity policies for over 200,000 pensioners and dependents.
The transaction will reduce the Dutch insurer's exposure to longevity risk and further strengthen its capital position under Solvency II.
The deal was advised by Aon - which provided the insurer advice on portfolio-specific best estimate longevity assumptions, ran a broking process and put in place a high-resolution transaction cashflow model to ensure consistent pricing.
