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Longevity - Lift-off for longevity market

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

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