Investment - Articles - MetLife in 5bn longevity reinsurance deal with Rothesay


MetLife, Inc. announced today that its subsidiary, Metropolitan Tower Life Insurance Company, has closed its second and third longevity reinsurance transactions with Rothesay Life Plc, reinsuring approximately $5 billion of pension liabilities associated with two U.K. bulk annuity transactions completed in the fourth quarter of 2020.

 “We are pleased to expand our relationship with Rothesay and build on our previous success to execute the latest two transactions very quickly and efficiently,” said Jay Wang, senior vice president and head of Risk Solutions for MetLife’s Retirement & Income Solutions business.

 “With these transactions, we will continue to execute on our strategy, using our actuarial expertise and history managing longevity risk to expand our footprint within the U.K. longevity reinsurance market.”

 “Despite the pandemic, the U.K. pension and longevity risk transfer market remains remarkably resilient and robust, offering opportunities for MetLife to continue to support direct insurers and pension schemes in the U.K. on hedging longevity risk,” Wang said.

 “We look forward to further strengthening our relationship with Rothesay and supporting the business in its de-risking activity.”

 “We are pleased to continue to grow our relationship with MetLife through these longevity reinsurance agreements. As a business purpose-built to protect pensions, strong reinsurance partnerships help us to deliver the long-term security we provide for policyholders,” said David Cox, Co-Head of Pricing and Reinsurance at Rothesay.

Back to Index


Similar News to this Story

Aviva announces 26m bulk annuity deal with the ABI
Aviva announces it has completed a £26m bulk purchase annuity buy-in transaction with the Trustees of the Association of British Insurers Pension & As
Utmost Group to acquire Quilter International
Commenting on the Transaction, Paul Thompson, CEO of Utmost Group said: “This is a highly attractive acquisition for Utmost Group and underscores the
Mercer accelerates portfolios with net zero carbon emissions
Consistent with its goal to place sustainability at the centre of its investment approach, Mercer has committed to a target of net-zero absolute carbo

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.