Edition:
India

PIC expects to reinsure more than 5 bln stg of longevity risk by year-end


Tuesday, 11 Dec 2018 

Dec 11 (Reuters) - :PENSION INSURANCE CORPORATION REINSURES 1.2 BILLION POUNDS OF LONGEVITY RISK WITH SCOR.THE AGREEMENT COVERS THE LONGEVITY RISK FOR AROUND 8,000 IN-PAYMENT LIVES AND, WHERE APPLICABLE, THEIR SPOUSES, ACROSS SIX SEPARATE DEFINED BENEFIT PENSION SCHEMES. .THIS AGREEMENT BUILDS UPON A SIMILAR £1 BILLION CONTRACT EXECUTED IN 2017..PIC'S LONGEVITY REINSURANCE BUSINESS VOLUMES FOR 2018 CURRENTLY EXCEED 4 BILLION POUNDS AND ARE EXPECTED TO EXCEED A RECORD 5 BILLION POUNDS BY THE END OF THE YEAR..