Life reinsurance

The deal brings total longevity risk volumes between the two parties to £4.4bn.

Prudential Retirement and Pension Insurance Corporation (PIC) have launched a new process to expedite longevity reinsurance transactions for smaller pension buy-ins and buy-outs.

Confirmed Lassa fever deaths have risen from 72 to 95 in Nigeria, the World Health Organization (WHO) said, as the figure remains below the level required to trigger a payout under the World Bank's pandemic cat bond.

Prudential has transferred £12bn in annuity assets to life reinsurer Rothesay Life as part of its demerger of M&G Prudential from Prudential Plc.

ILS investors are closely monitoring the World Bank's pandemic cat bond, as a partial payment could be triggered if a major outbreak of Lassa fever widens in Nigeria, sources told Trading Risk.

The strategy of Langhorne Re, the closed-ended life fund set up last month by RenaissanceRe and life reinsurer Reinsurance Group of America (RGA), will be based largely around a leveraged asset play, according to sources.

The Prudential Insurance Company of America (PICA) has assumed the longevity risk attached to £1.3bn of annuity liabilities held by Scottish Widows.

Aetna Life Insurance's $200mn Vitality Re IX cat bond has priced at a record low with both tranches of the deal settling below the initial guidance, according to sources

Pension Insurance Corporation (PIC) has agreed a £725mn reinsurance agreement with PartnerRe which covers the longevity risk it acquired after insuring the Dockworkers Pension Fund in a buy-in last year.

Lincoln Financial Group has agreed to purchase Liberty Life Assurance Company of Boston from Liberty Mutual for $3.3bn.

Hymans Robertson has hired actuary Baljit Khatra from Mercer as a risk transfer consultant, the company announced.

RenaissanceRe and Reinsurance Group of America (RGA) may look to raise further life reinsurance funds following the launch of their $780mn joint venture Langhorne Re, sister publication The Insurance Insider reported.