Long live longevity bonds?

New angles

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BNP Paribas is testing the markets with an inaugural longevity bond, a security designed to help pension funds hedge longevity risk. Whether the market develops beyond this first issue remains to be seen.

As Risk went to press in November, the French investment bank, in conjunction with the European Investment Bank (EIB), was marketing the 25-year, £540 million issue to UK pension fund trustees, fund managers and actuarial consultants. The EIB will issue the bonds and Partner Re, a global reinsu

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