Locked out of longevity

Despite regulatory scrutiny of life settlement products and concerns over the complexity of assessing longevity risk, the institutional structured product market in the asset class is growing exponentially. But will these products ever be suitable for retail investors? By Joti Mangat


Despite increased scrutiny from the UK Financial Services Authority (FSA), the US Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (Finra), the US Congress and various regional Asian regulators, dealers and institutional investors alike say demand for life settlement products is increasing.

Recent highlights include a massive series of longevity swaps traded by UK insurance companies, BMW’s £3 billion ($4.6 billion) swap with Deutsche Bank, the largest ever

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