A new report by Swiss Re pushes the idea of a liquid capital market in longevity risk that can help pay for people who are living longer.
The report, "A mature market: Building a capital market for longevity risk" addresses many questions posed by investors, regulators and pension funds about whether a longevity capital market is viable and how such a market might work.
As life expectancy around the world continues to rise, many people won't have enough money to have a financially secure retirement. Reinsurers and insurers are playing a lead role for both pension funds and individuals in helping them to shoulder the risk through products such as longevity insurance, or longevity swaps, and annuities. According to the report, many pension funds are underfunded and there are more than $20 trillion in defined benefit assets that will be exposed to longevity risk globally.
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