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

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

Longevity analytics firm, Club Vita has actually partnered with Bermuda-based insurtech Longitude Exchange, the world-first digital market for trading in index-based durability risk, to enhance both the transparency and effectiveness of the durability risk transfer market.Longitude Exchange released on March 1st in Bermuda and will soon launch its digital marketplace, developed to connect durability danger hedgers with investors on a web-based ecosystem thats purpose-built for longevity threat.
The aim is to drive down frictional expenses and timelines through standardisation, while likewise supplying rate openness and providing an option for secondary liquidity, all of which is expected to generate more transaction volume.
Just days after its official launch, the insurtech has actually partnered with global service provider of durability analytics, Club Vita, who works with pension funds in the UK, Canada, and the U.S., and likewise supports those that handle durability danger, such as insurance providers, reinsurers, and asset managers.
The new cooperation will see the set integrate Club Vitas durability danger classification services into Longitude Exchanges digital marketplace. This will make it possible for risk takers and cedents to customize durability danger derivative instruments specifically to their requirements while encouraging the advancement 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 expected fast growth in volume of pension threat transfer handle the UK, United States and Canada in the coming years. We have actually long thought that an effective way to parameterize and trade durability danger will end up being vital for increasing capacity in the market. This will be important in enabling more pension and insurers to move and manage their durability danger, and eventually enhance the financial security of pensioner populations worldwide.
” Were now seeing strong demand for durability danger transfer, and greater interest in parametric forms of structuring agreements.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market needs an agreed system of measurement for it to operate– and the longevity market is no various. With the category systems developed by Club Vita to parameterize longevity trend risk for pension and annuity liabilities, we can enable market participants to trade in a typical currency, successfully matching up buyers and sellers and motivating secondary trading by interesting a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based longevity threat transfer transactions for insurance companies, together with their financial investment in new innovation, seems like a perfect match for our data-driven longevity insights. We cant wait to start,” added Anderson.

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