Longevity swaps and the bulk purchase annuity market: Video interview with Simon Gadd, Legal & General’s head of annuities

Longevity swaps have yet to move into the mainstream – but bulk buyouts could be set return to favour

Despite a fanfare of publicity when the first longevity swap deals were signed, widespread interest from pension funds has yet to translate into actual deals. In a video interview with Life & Pension Risk, Legal & General's head of annuities, Simon Gadd, points to unrealistic expectations over pricing and the sheer complexity of constructing such a new instrument. And with equity markets returning to – relative – strength, he argues that the traditional buyout may be returning to favour.

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