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Barnett Waddingham comments on the £1bn Pilkington Longevity Swaps

Commenting on the £1bn Pilkington longevity swaps that have ensured 2011 is a record year for the de-risking market, Nick Griggs, Head of Corporate Consulting at Barnett Waddingham, said:

“The longevity market seems to be gaining momentum which will hopefully bring greater standardisation to market.  This will in turn allow a greater number of schemes to undertake similar deals. In time, smaller schemes may also be able to complete such a transaction.

“It has been suggested that insurers and reinsurers are currently quite keen to take on longevity swap deals to offset the mortality risks that already exist in their portfolio and as a result these transactions are being priced attractively. This issue needs to considered carefully as there are many other issues that can influence attractiveness of the pricing of these contracts.”

For more information please contact Nick Griggs or Steph Gold