Munich Re North America Life launches longevity reinsurance solution to US and Canada markets

Munich Re North America Life has announced a new offering – longevity reinsurance – aimed at allowing clients to accumulate assets while transferring biometric risk. Clients can 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.

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 the pension risk transfer market growing alongside elevated interest rates, and with insurers seeking to balance mortality and longevity risks, this capability can complement a variety of risk management strategies. Munich Re’s team of experts in North America can support successful longevity transactions through specialized actuarial, risk and legal knowledge as well as “unparalleled data-based insights on mortality assumptions.”

“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. 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.” – Mary Forrest, President and CEO of Munich Re North America Life.