Club Vita & Longitude Exchange eye more transparent, efficient longevity market

Club Vita & Longitude Exchange eye more transparent, efficient longevity market

Longevity analytics firm, Club Vita has partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital marketplace for trading in index-based longevity threat, to enhance both the transparency and efficiency of the longevity risk transfer market.Longitude Exchange launched on March 1st in Bermuda and will quickly launch its digital marketplace, developed to link durability risk hedgers with investors on a web-based community thats purpose-built for longevity danger.
The aim is to drive down frictional expenses and timelines through standardisation, while likewise offering price transparency and providing a choice for secondary liquidity, all of which is expected to generate more transaction volume.
Simply days after its official launch, the insurtech has partnered with global service provider of durability analytics, Club Vita, who works with pension funds in the UK, Canada, and the U.S., and also supports those that manage durability risk, such as insurance providers, reinsurers, and asset managers.
The brand-new cooperation will see the pair incorporate Club Vitas durability risk classification services into Longitude Exchanges digital marketplace. This will make it possible for danger takers and cedents to tailor durability threat derivative instruments specifically to their needs while motivating the advancement of a liquid secondary market.
Douglas Anderson, Founder and Chief Visionary Officer of Club Vita, commented: “Were extremely thrilled to see the launch of Longitude Exchange, with the anticipated fast development in volume of pension risk transfer offers in the UK, United States and Canada in the coming years. We have actually long believed that a reliable method to parameterize and trade longevity danger will become vital for increasing capacity in the market. This will be essential in making it possible for more pension and insurers to move and handle their durability threat, and eventually improve the financial security of pensioner populations worldwide.
” Were now seeing strong need for durability risk transfer, and higher interest in parametric kinds of structuring agreements.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs a predetermined system of measurement for it to function– and the longevity market is no different. With the category systems established by Club Vita to parameterize longevity trend threat for pension and annuity liabilities, we can make it possible for market individuals to trade in a typical currency, efficiently matching up sellers and purchasers and motivating secondary trading by attracting a broad spectrum of threat takers.”
“Longitude Exchanges experience in structuring index-based longevity risk transfer deals for insurers, together with their investment in new technology, seems like a best match for our data-driven longevity insights. We cant wait to begin,” included Anderson.

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