
JP Morgan completes first longevity swap on non-retirees
JP Morgan completes first longevity swap on non-retirees

The first longevity hedge on the life expectancy of non-retirees has been concluded in a £70 million deal between JP Morgan and the trustees of water purifier Pall UK's pension fund.
The transaction is based on the future values of JP Morgan's LifeMetrics longevity index and is heralded as the first of its kind, with previous deals having focused on hedging the longevity risk of retired pension plan members and favouring a whole-of-life duration.
"In general, the uncertain life expectancies of
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