Canada Life Reinsurance is pleased to announce that it has recently entered into a long-term longevity reinsurance agreement with VIVAT covering 70% of €8 billion of in-force liabilities.
Image: Canada Life Reinsurance enters into €5.5bn longevity risk reinsurance agreement with SRLEV N.V. (VIVAT). Photo: courtesy of rawpixel/Unsplash.com
More than 150,000 of in-payment and deferred pensioners are reinsured by Canada Life Reinsurance under this agreement.
Jeff Poulin, Global Head of Canada Life Reinsurance, commented, “I am pleased to announce this significant reinsurance transaction, which highlights our strength in working effectively with VIVAT to structure a longevity risk solution to efficiently manage their overall risk. This transaction adds to our diverse longevity reinsurance portfolio and demonstrates how, together with Arpian, we create large, complex and unique risk transfer structures backed by our financial strength to benefit our clients.”
Canada Life Reinsurance offers a range of innovative risk and capital management solutions covering mortality, longevity, health and lapse risks for insurers, reinsurers and pension funds across the U.S. and Europe, including the Netherlands, the U.K., France, Germany, Italy, Spain, Portugal, Sweden, Belgium and Ireland.
Source: Company Press Release