Life & Health

Longevity risk transfer

Hannover Re is a global market leader in longevity with an unrivalled track record. We were the first reinsurer in the underwritten annuities market in the United Kingdom in 1995. Strategically, our position is to continue to grow in longevity risk and diversify our portfolio by accepting more business on a worldwide basis.

We have significant experience in different areas of longevity reinsurance such as regular premium annuity treaties, reserve release swaps and index-based solutions. In Hannover, we have a fully-fledged team of actuaries with extensive experience and expertise serving longevity business worldwide, both for longevity de-risking as well as at-retirement solutions.

Reassurance of longevity risk on a bulk basis

The risk of individuals living longer than expected creates challenges, not only for the individual, but also for governments, employees, corporations offering occupational pensions, pension funds and life insurers, who face retirement-related liabilities that increase as a result of improved life expectancy.

Hannover Re offers various solutions such as regular premium annuity treaties, mortality forwards and single premium reassurance to support our clients facing increased longevity risk.

Having been among the first regular premium annuity treaty providers in the UK, Hannover Re has drawn on the experience gained and has now successfully transferred the concept to a variety of European and non-European countries.

The assumption of longevity risks also forms an attractive part of our risk management since longevity risks are negatively correlated with mortality risks and hence lead to an improved diversification of our portfolio.

At-retirement solutions

Tailoring annuity products to the needs of consumers is at the heart of our business. We have therefore developed various solutions to meet diverse consumer needs at retirement. Among those solutions are products such as deferred annuities at retirement, unit-linked annuities, equity release reassurance solutions, parent’s pocket money protection, immediate needs products and enhanced annuities.

For underwritten annuities, we use medical, socio-economic, and lifestyle factors and have built up special expertise in pricing, underwriting, and product development that enables us to implement custom-made reassurance solutions for our clients, including state-of-the-art underwriting processes. Key element is our automatic underwriting system that provides immediate guaranteed quotes for almost 100% of cases.

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You will find more information about products for end-consumers and solutions to optimise your longevity risk exposure here.

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