Willkie Farr &加拉格爾

2023年6月23日

蘇黎世&英國保德信金融集團£17億養老金長壽交換&再保險蘇黎世和保德信金融集團公司聯合發表£17億養老金長壽交換和再保險風險轉移安排英國全國養老基金。全國養老基金受托人已進入有限壽命與蘇黎世互換協議保證蘇黎世(英國),保德信金融集團,Inc . (PFI)美國充當再保險資本提供者。長壽風險的全國約£17億(20億美元)的養老金計劃負債,在英國,覆蓋大約7000工資成員參與。事務將長壽風險的養老金通過蘇黎世英國PFI的保險子公司再保險公司,雖然是有限追索機製來防止蘇黎世英國暴露在事務。所涉及的公司說,市場認為長壽風險轉移交易需求增加。主席凱瑟琳雷德蒙基金的受托人,受托人主管BESTrustees有限的評論說,“這交易是一個重要的步驟在確保成員的好處是獲得意想不到的增加壽命。這是好消息的基金和其成員,轉移風險,有助於進一步保護我們的成員的養老金。我們作為一個受托人委員會很高興把這個額外的步驟在我們長期消除旅程。受托人是感激怡安和掠奪者的支持,期待與蘇黎世和PFI團隊密切合作。“羅希特•Mathur退休策略國際再保險業務主管PFI,補充說,“最近的加息導致養老金計劃資助狀況得到改善,加速de -冒著許多讚助商計劃。 Pension Trustees can consider a few different options to manage risk including a pension buy-out or a longevity risk transfer transaction. We are pleased to offer reinsurance that helps clients meet their objectives.” Greg Wenzerul, head of longevity risk transfer for Zurich UK, said, “This solution represents a simple approach for pension fund trustees to manage their exposure to longevity risk. In a rapidly changing pensions de-risking market, with increased pension scheme focus on leverage, longevity swaps continue to represent a sophisticated and valuable de-risking approach. We are pleased to count the Trustee of the Nationwide Pension Fund as a customer, and to build on our existing transactions involving PFI.” Aon acted as lead adviser to the Nationwide trustee, with legal counsel provided by Sacker & Partners LLP. PFI was advised by Willkie Farr & Gallagher LLP, and Zurich was advised by Slaughter and May. Insight Investment provides ongoing longevity-related services in support of the Trustee, including that of collateral manager. Tom Scott, Partner in the Aon Risk Settlement Group, stated, “This transaction provides cost effective and practical risk mitigation to the Fund. It further improves members’ benefit security and reduces risks to the Fund and Nationwide Building Society as sponsor. It is a further example of the ability and capacity of the insurance and reinsurance markets to work in partnership with pension funds of different shapes and sizes to manage risks.”