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 market for trading in index-based longevity threat, to enhance both the transparency and efficiency of the longevity threat transfer market.Longitude Exchange introduced on March 1st in Bermuda and will quickly release its digital marketplace, designed to connect longevity 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 cost openness and presenting a choice for secondary liquidity, all of which is expected to produce more deal volume.
Just days after its official launch, the insurtech has actually partnered with international supplier of durability analytics, Club Vita, who deals with pension funds in the UK, Canada, and the U.S., and also supports those that handle longevity threat, such as insurance companies, reinsurers, and property supervisors.
The new cooperation will see the set integrate Club Vitas durability risk category services into Longitude Exchanges digital marketplace. This will allow danger takers and cedents to customize durability 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 really excited to see the launch of Longitude Exchange, with the expected quick development in volume of pension danger transfer handle the UK, US and Canada in the coming years. We have actually long believed that a reliable method to parameterize and trade durability risk will end up being necessary for increasing capability in the market. This will be crucial in enabling more pension plans and insurance providers to move and handle their durability threat, and eventually improve the financial security of pensioner populations worldwide.
” Were now seeing strong need for longevity threat transfer, and higher interest in parametric forms of structuring agreements.”
Avery Michaelson, Founder of Longitude Exchange, stated: “Any market requires a predetermined unit of measurement for it to function– and the longevity market is no different. With the classification systems developed by Club Vita to parameterize longevity pattern danger for pension and annuity liabilities, we can make it possible for market participants to trade in a typical currency, efficiently comparing purchasers and sellers and encouraging secondary trading by appealing to a broad spectrum of risk takers.”
“Longitude Exchanges experience in structuring index-based durability threat transfer transactions for insurers, together with their investment in new innovation, feels like a best match for our data-driven durability insights. We cant wait to get started,” added Anderson.

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