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 marketplace for trading in index-based longevity threat, to improve both the openness and efficiency of the durability threat transfer market.Longitude Exchange introduced on March 1st in Bermuda and will soon release its digital marketplace, developed to link durability risk hedgers with investors on a web-based community thats purpose-built for durability threat.
The aim is to drive down frictional costs and timelines through standardisation, while also supplying price transparency and presenting a choice for secondary liquidity, all of which is anticipated to create more transaction volume.
Simply days after its main launch, the insurtech has actually partnered with worldwide service provider of longevity analytics, Club Vita, who works with pension funds in the UK, Canada, and the U.S., and also supports those that manage durability threat, such as insurers, reinsurers, and asset supervisors.
The new collaboration will see the pair incorporate Club Vitas durability danger category services into Longitude Exchanges digital market. This will enable risk takers and cedents to customize durability danger derivative instruments particularly to their requirements while motivating the advancement of a liquid secondary market.
Douglas Anderson, Founder and Chief Visionary Officer of Club Vita, commented: “Were really delighted to see the launch of Longitude Exchange, with the expected fast growth in volume of pension threat transfer deals in the UK, US 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 capacity in the market. This will be crucial in allowing more pension plans and insurers to transfer and manage their durability risk, and eventually enhance the financial security of pensioner populations worldwide.
” Were now seeing strong demand for durability risk transfer, and higher interest in parametric kinds of structuring agreements.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs an agreed unit of measurement for it to function– and the longevity market is no different. With the category systems developed by Club Vita to parameterize durability trend danger for pension and annuity liabilities, we can enable market individuals to sell a common currency, efficiently comparing sellers and buyers and motivating secondary trading by appealing to a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based durability threat transfer deals for insurance companies, together with their financial investment in new innovation, feels like a perfect match for our data-driven longevity insights. We cant wait to begin,” included Anderson.

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