Risk solutions
Longevity
Due to demographic changes and constantly increasing life expectancy, exposure to longevity risk becomes a major issue for insurance companies and pension providers worldwide. Besides providing risk transfer solutions, Hannover Re teams up with partners and clients to support innovative product design that meets the needs of consumers.
We support clients in navigating the complexities of longevity risk and help them respond to the challenges that come with it.
In many countries, the retirement system consists of three pillars: state pension, occupational pension and private pension. The risk of a higher life expectancy creates substantial challenges, not only for the consumers who need a secure income for a longer period than expected during retirement, but also for the governments, corporations offering occupational pensions, pension funds and for life insurers who face increasing retirement-related liabilities.
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.
With our experience of almost three decades, we have developed tailored solutions to transfer longevity risk and provided extensive support for our clients. We have a deep insight into mortality and morbidity experience among older lives. This provides us with a sound knowledge base from which to work with clients on developing the next generation of longevity products.
The growing importance of longevity solutions
As awareness of increasing life expectancy grows, innovative retirement solutions and products are needed to meet the need for protection in old age. Longevity solutions will play an even more important role in the coming years.