Goldman Sachs unveils mortality index

Goldman Sachs has launched a tradable mortality index based on a pool of US senior citizens. The QxX index is referenced to a pool of 46,290 people aged over 65 in the US, and will be tracked and updated monthly. The bank says it will produce vanilla swaps based on the index to allow investors to hedge or increase longevity exposure. The index is underwritten by AVS Underwriting.

Goldman says QxX is the first in a series of indexes, but refused to provide details of future products. Nor did it a