Since the establishment of the longevity risk transfer market nearly 20 years ago, Swiss Re has, according to a statement released on Tuesday, concluded more than 30 longevity reinsurance transactions in the United Kingdom, the Netherlands, Singapore and Australia. In doing so, it has covered pension benefits amounting to more than 50 billion dollar for over one million pensioners.

Swiss Re has now signed its first contract in the US market. The contractual counterparty is Athene, as part of its standard risk management measures. Michael Bacon, Managing Director and Head of US Globals and Transactions at Swiss Re, said: «Swiss Re’s financial strength and structuring expertise support Athene’s mission of protecting the retirement benefits of its policyholders.»

With a share of 17 percent of insurance revenue in 2025, longevity business is the second-largest segment within Swiss Re’s Life & Health Reinsurance division. As more sponsors of defined benefit pension schemes transfer their pension liabilities to insurers, Swiss Re expects significant demand in the industry for solutions to hedge longevity risks.