The life settlement industry in particular is a heavy user of life expectancy estimates and it’s an area that continues to undergo significant change due to the influence of new data, more complete data, and technology. Life Risk News’ Greg Winterton spoke to Chris Conway, Chief Development Officer, ISC Services, Vince Granieri, CEO, Predictive Resources, Phil Hall, Manager of Product and Business Development, Longevity Holdings, Sean Malone, President and CEO…

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Insurers are favouring funded re as it helps firms manage the market and longevity risks associated with writing bulk purchase annuity (BPA) business by reducing capital charges and therefore making PRT deals more competitive. 

Unsurprisingly, given its growth and potential for capital optimisation, UK regulators have been carefully watching the increased use of funded re. In June 2023, the Prudential Regulatory Authority (PRA) sent a “Dear CRO’ letter to heads of risk at UK life insurers.

The letter outlined the regulator’s two main concerns from a sectoral review which it had carried out.

“One of the key risks arising in funded re is that firms recapture sub-optimal portfolios with depressed values and with limited ability to be transformed effectively to the firms’ preferred portfolio,” the PRA letter said.

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