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 actually partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital marketplace for trading in index-based longevity risk, to improve both the openness and efficiency of the longevity danger transfer market.Longitude Exchange released on March 1st in Bermuda and will soon release its digital marketplace, created to connect longevity risk hedgers with financiers on a web-based community thats purpose-built for durability danger.
The objective is to drive down frictional costs and timelines through standardisation, while also providing cost transparency and providing an option for secondary liquidity, all of which is anticipated to produce more transaction volume.
Just days after its main launch, the insurtech has actually partnered with international 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 handle longevity risk, such as insurance providers, reinsurers, and asset managers.
The new collaboration will see the set integrate Club Vitas longevity threat category services into Longitude Exchanges digital marketplace. This will make it possible for threat takers and cedents to customize durability danger 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 delighted to see the launch of Longitude Exchange, with the anticipated rapid development in volume of pension danger transfer offers in the UK, United States and Canada in the coming years. We have long believed that a reliable method to parameterize and trade durability danger will become necessary for increasing capability in the market. This will be essential in enabling more pension plans and insurance providers to transfer and manage their longevity threat, and ultimately enhance the monetary security of pensioner populations worldwide.
” Were now seeing strong need for longevity threat transfer, and greater interest in parametric types of structuring contracts.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs a predetermined unit of measurement for it to operate– and the durability market is no different. With the classification systems developed by Club Vita to parameterize longevity pattern danger for pension and annuity liabilities, we can allow market participants to trade in a common currency, effectively matching up purchasers and sellers and motivating secondary trading by attracting a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based longevity risk transfer deals for insurance providers, together with their investment in brand-new technology, seems like a best match for our data-driven longevity insights. We cant wait to start,” included Anderson.

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