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 marketplace for trading in index-based durability risk, to improve both the transparency and effectiveness of the longevity threat transfer market.Longitude Exchange introduced on March 1st in Bermuda and will quickly launch its digital marketplace, developed to link durability risk hedgers with investors on a web-based ecosystem thats purpose-built for longevity threat.
The objective is to drive down frictional expenses and timelines through standardisation, while also offering cost openness and presenting an alternative for secondary liquidity, all of which is expected to create more deal volume.
Just days after its official launch, the insurtech has actually partnered with international supplier of longevity analytics, Club Vita, who deals with pension funds in the UK, Canada, and the U.S., and also supports those that manage longevity danger, such as insurers, reinsurers, and asset managers.
The brand-new cooperation will see the set incorporate Club Vitas durability risk category services into Longitude Exchanges digital market. This will make it possible for danger takers and cedents to customize longevity threat derivative instruments specifically to their requirements while encouraging the development of a liquid secondary market.
Douglas Anderson, Founder and Chief Visionary Officer of Club Vita, commented: “Were very thrilled to see the launch of Longitude Exchange, with the expected rapid development in volume of pension risk transfer offers in the UK, United States and Canada in the coming years. We have long thought that an efficient method to parameterize and trade durability threat will end up being essential for increasing capability in the market. This will be essential in making it possible for more pension and insurance companies to move and manage their longevity danger, and eventually enhance the monetary security of pensioner populations worldwide.
” Were now seeing strong need for longevity danger transfer, and greater interest in parametric forms of structuring contracts.”
Avery Michaelson, Founder of Longitude Exchange, said: “Any market requires a predetermined system of measurement for it to function– and the longevity market is no various. With the category systems established by Club Vita to parameterize durability trend threat for pension and annuity liabilities, we can make it possible for market participants to trade in a typical currency, successfully comparing sellers and buyers and encouraging secondary trading by interesting a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based durability risk transfer transactions for insurance companies, together with their investment in new technology, feels like a perfect match for our data-driven longevity insights. We cant wait to get started,” included Anderson.

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