Large rises in life expectancy over the past few decades and continued uncertainty around future demographic trends have led to increasing scrutiny of longevity risk by pension schemes, insurers and regulators
Canada Life Reinsurance offers a range of products in Europe to enable our clients to reduce their exposure to longevity risk, enabling optimum risk management and continued growth opportunities. We work closely with leading annuity providers, pension scheme trustees and their advisors in order to understand each client’s needs, meet pricing project timescales and implement new treaties as efficiently as possible. We benefit from the financial strength and robust risk management culture associated with Great-West Lifeco Inc, which includes top ranking credit ratings from the major rating agencies (AA S&P, AA3 Moodys).
We are an experienced counterparty, having executed our first large-scale longevity transaction in 2008. Recent longevity transactions in the UK market include the reinsurance of £1.5bn of liabilities associated with the MMC Pension Plan. We are also active across continental Europe, notably in France and the Netherlands. Our largest longevity reinsurance transaction in continental Europe transacted in 2015 and covered €6bn of Dutch annuities ceded by Aegon.