Life and Longevity Markets Association

A group of banks and insurance companies recently formed a London-based trade group called the Life and Longevity Markets Association (LLMA). The LLMA aims to develop a liquid market for longevity risk that taps into broader capital markets rather than just the balance sheets of certain insurers and reinsurers. A core focus will be on longevity swaps and making the longevity swap transaction process more efficient. Longevity swaps serve as a risk transfer alternative to pension buyouts. The...