Axa agrees market's first ever deferred longevity swap with Hannover Re
The Axa UK Group Pension Scheme has agreed a £3bn longevity swap with Hannover Re, insuring the longevity risk of a largely non-pensioner population.
Closed on 27 February, the deal is thought to be the first in the UK to cover deferred members and includes pensions that may come into payment after 31 March 2019. Around 16,000 members are protected...
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