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

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

Longevity 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 improve both the transparency and efficiency of the durability danger transfer market.Longitude Exchange released on March 1st in Bermuda and will quickly release its digital market, designed to link longevity threat hedgers with financiers on a web-based ecosystem thats purpose-built for durability risk.
The goal is to drive down frictional costs and timelines through standardisation, while also providing rate transparency and providing an alternative for secondary liquidity, all of which is anticipated to create more transaction volume.
Just days after its official launch, the insurtech has actually partnered with global supplier of longevity analytics, Club Vita, who deals with pension funds in the UK, Canada, and the U.S., and also supports those that handle longevity danger, such as insurers, reinsurers, and possession supervisors.
The brand-new collaboration will see the pair integrate Club Vitas longevity threat category services into Longitude Exchanges digital marketplace. This will make it possible for threat takers and cedents to tailor durability threat 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 very delighted to see the launch of Longitude Exchange, with the anticipated fast growth 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 risk will end up being essential for increasing capability in the market. This will be vital in enabling more pension strategies and insurance providers to transfer and handle their durability danger, and eventually improve the monetary security of pensioner populations worldwide.
” Were now seeing strong need for longevity danger transfer, and greater interest in parametric kinds of structuring contracts.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs a predetermined unit of measurement for it to function– and the durability market is no various. With the classification systems developed by Club Vita to parameterize longevity pattern threat for pension and annuity liabilities, we can allow market participants to trade in a common currency, efficiently comparing buyers and sellers and encouraging secondary trading by appealing to a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based longevity threat transfer deals for insurance companies, together with their financial investment in brand-new innovation, seems like a best match for our data-driven longevity insights. We cant wait to get going,” included Anderson.

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