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

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

Durability analytics company, Club Vita has partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital market for trading in index-based longevity danger, to enhance both the openness and performance of the durability threat transfer market.Longitude Exchange released on March 1st in Bermuda and will quickly launch its digital marketplace, created to link longevity danger hedgers with investors on a web-based environment thats purpose-built for durability risk.
The goal is to drive down frictional costs and timelines through standardisation, while likewise supplying price transparency and providing an option for secondary liquidity, all of which is anticipated to create more deal volume.
Just days after its main launch, the insurtech has partnered with international company of longevity analytics, Club Vita, who works with pension funds in the UK, Canada, and the U.S., and also supports those that manage longevity threat, such as insurers, reinsurers, and possession managers.
The new cooperation will see the pair integrate Club Vitas longevity threat classification services into Longitude Exchanges digital marketplace. This will enable threat takers and cedents to tailor longevity risk derivative instruments particularly to their needs while motivating the development of a liquid secondary market.
Douglas Anderson, Founder and Chief Visionary Officer of Club Vita, commented: “Were extremely excited to see the launch of Longitude Exchange, with the expected rapid development in volume of pension risk transfer handle the UK, United States and Canada in the coming years. We have long believed that an effective way to parameterize and trade longevity danger will end up being important for increasing capacity in the market. This will be vital in enabling more pension strategies and insurance companies to move and handle their longevity threat, and eventually enhance the monetary security of pensioner populations worldwide.
” Were now seeing strong need for longevity risk transfer, and higher interest in parametric types of structuring agreements.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs an agreed system of measurement for it to operate– and the durability market is no various. With the classification systems developed by Club Vita to parameterize longevity trend risk for pension and annuity liabilities, we can enable market individuals to sell a typical currency, successfully comparing buyers and sellers and encouraging secondary trading by appealing to a broad spectrum of danger takers.”
“Longitude Exchanges experience in structuring index-based durability risk transfer transactions for insurance companies, together with their financial investment in brand-new innovation, feels like an ideal match for our data-driven longevity insights. We cant wait to get going,” included Anderson.

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