Download Life Risk News Volume 3, Issue 11, November 2024

The average life expectancy of a new-born human doubled from 32 years in 1900 to 71 years in 2021. Implausibility Of Radical Life Extension In Humans In The Twenty-First Century, a new article published in Nature Aging, says that the chance of a repeat in the 21^st century is almost zero. Greg Winterton spoke to S. Jay Olshansky of Lapetus Solutions, one of the article’s authors, and David Blake, Professor of Finance & Director of Pensions Institute at Bayes Business School, to get their thoughts on how this might affect our industry in New Research Set to Have Significant Impact on Longevity and Mortality Markets.

Data – either a lack of it, too much of it, or even the wrong kind – is providing the UK’s pension risk transfer (PRT) market with something of a headache. Samantha Downes spoke to Gareth Henty, Head of Pensions at PwC UK, Frankie Borrell, Head of BPA Origination at insurer Royal London, Scott Finnie, Head of Digital Strategy at Hymans Robertson and Julie Yates, Director of Pensions Administration at Cartwright to learn why in Getting Data Right Remains a Challenge in UK Pension Risk Transfer Market.

In early November, the new UK government introduced the Tobacco and Vapes Bill, which phases out the sale of tobacco products across the UK to anyone aged 15 or younger this year. Aaron Woolner spoke to Nicky Draper, Longevity Consultant at Crystalise, to understand more about the potential impact on UK mortality of the ban in UK Smoking Bill Likely to Deliver Only Modest Improvements to Future Life Expectancy.

In recent years, the media frenzy around ESG has cooled and the movement has even received an element of backlash in some quarters. Greg Winterton held a roundtable call with Johan Jonson, Risk Manager at Ress Capital, Dan Knipe, Chief Investment Officer at Kilter Finance and Sarah Nappi, Associate at NorthPeak Advisory to get their views for the topic for What is the Current State of the Relationship Between ESG and the Longevity and Mortality Markets?

The reinsurance sector’s capacity and innovative solutions have enabled life insurers to manage risk in the PRT space effectively, facilitating the transfer of pension liabilities to annuity providers but without this support and expertise, this level of market growth would have been unattainable. Rupal Mepani, Head of BPA Transactions and Nicola Torley, a Consultant at Hymans Robertson explain more in Reinsurance Developments in the Bulk Purchase Annuity Market, a guest article.

While aging is fundamentally a physiological phenomenon, numerous factors significantly influence the rate at which this process occurs. Certain factors can accelerate the aging process, while some have the potential to decelerate it, influencing the rate of physiological decline. Dr Jyotsna Kamble, Medical Underwriter at CG Analysts, gives her views in Slowing the Biological Clock: How Lifestyle Choices Influence Aging, our second guest article this month.

The underwriting process in the life settlement industry has changed in the past two decades, as the accumulation of more data, and the increasing accuracy of that data, along with a generally expanding mortality profile of humans, has seen life expectancies (LEs) extending. Greg Winterton spoke to Dr Rahul Nawander, Medical Director at Fasano Underwriting, to get his views on what is impacting LEs generally from a medical perspective in this month’s Q&A.

Investors looking for access to Canadian secondary life markets have reverse mortgage securitisations and a secondary market for life insurance in Quebec, and not much else. But one concept could provide investors with a new way to access longevity risk. Greg Winterton spoke to Daniel Kahan, Founder at LifePoint Foundation for People with Special Needs, to learn more in Few Options for Investors To Access Canadian Secondary Life Markets but a Novel Idea Has Potential.