WSJ – Swiss Reinsurance Co Tuesday said it has provided a public U.K. pension fund with longevity risk protection, the first such deal between private and public businesses and one that could find more followers in the slow-growing insurance industry, analysts say.
As part of the deal, Swiss Re will provide Royal County of Berkshire Pension Fund with insurance cover in case some of its 11,000 pensioners, for which the fund has some 1.7 billion Swiss francs ($1.6 billion) in liabilities, live longer than expected. This is called longevity risk by insurers.
