Munich Re North America Life has launched a new longevity reinsurance offering which will reportedly allow clients to accumulate assets while transferring biometric risk.
Munich Re North America Life includes Munich Re Life US and Munich Re, Canada (Life), which have served the US, Canada, Bermuda and Caribbean markets for 65 years.
With this new offering, the firm explained that its clients can now pass on longevity risk by converting uncertain future pension or annuity payments into a fixed cash flow stream, locking in mortality assumptions and a fee at inception.
Mary Forrest, President and CEO of Munich Re North America Life, commented, “We believe there is significant, untapped demand for longevity reinsurance in the US and Canada markets and we are well positioned to meet it.
“We are known for applying our scale, capacity, and insight to solve complex client challenges in ways that enable them to grow their businesses.
“We look forward to partnering with clients to evaluate the impact of longevity reinsurance and to designing a customized approach that supports their specific goals.”
Forrest added, “We are now among the few reinsurers offering longevity reinsurance to the North American market.
“In addition to our decades of expertise here in mortality risk assessment, we bring a global perspective and practical knowledge via Munich Re Group’s significant experience executing longevity transactions in Europe.”
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Publish date : 2024-09-17 23:20:00
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Author : theamericannews
Publish date : 2024-09-18 10:56:29
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