Longevity - Lift-off for longevity market

News

The creation of a market in traded longevity derivatives has come one step closer with the announcement that London-based buyout firm, Lucida, had in principle agreed a deal with JP Morgan using the investment bank's LifeMetrics longevity index as the underlying.

JP Morgan will act as the counterpart to Lucida on a deal that will initially see the insurer hedge exposure on the deal it agreed with Bank of Ireland Life (BoIL) in January, which sees it take on EUR100 million of immediate annuity bus

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