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

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

Durability analytics firm, Club Vita has partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital market for trading in index-based durability threat, to enhance both the openness and efficiency of the durability risk transfer market.Longitude Exchange launched on March 1st in Bermuda and will soon launch its digital market, designed to link durability danger hedgers with investors on a web-based environment thats purpose-built for durability threat.
The aim is to drive down frictional expenses and timelines through standardisation, while also providing rate transparency and providing a choice for secondary liquidity, all of which is expected to produce more transaction volume.
Simply days after its main launch, the insurtech has actually partnered with international provider of durability analytics, Club Vita, who deals with pension funds in the UK, Canada, and the U.S., and likewise supports those that manage longevity danger, such as insurance providers, reinsurers, and property supervisors.
The new collaboration will see the pair integrate Club Vitas durability threat classification services into Longitude Exchanges digital market. This will enable risk takers and cedents to customize longevity risk derivative instruments specifically to their needs while encouraging 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 danger transfer handle the UK, US and Canada in the coming years. We have long believed that an efficient method to parameterize and trade durability danger will end up being important for increasing capability in the market. This will be essential in enabling more pension and insurance providers to move and manage their longevity threat, and ultimately enhance the monetary security of pensioner populations worldwide.
” Were now seeing strong demand for longevity risk transfer, and greater interest in parametric kinds of structuring contracts.”
Avery Michaelson, Founder of Longitude Exchange, said: “Any market requires an agreed unit of measurement for it to operate– and the longevity market is no different. With the category systems developed by Club Vita to parameterize durability trend risk for pension and annuity liabilities, we can make it possible for market individuals to trade in a typical currency, efficiently matching up sellers and buyers and motivating secondary trading by interesting a broad spectrum of danger takers.”
“Longitude Exchanges experience in structuring index-based longevity threat transfer deals for insurance companies, together with their financial investment in brand-new technology, seems like an ideal match for our data-driven durability insights. We cant wait to get started,” included Anderson.

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