The risk that individuals live longer than expected creates challenges, not only for the individual who needs an income for a period longer than expected after retirement, but also for the government, defined benefit retirement funds and life insurers who face retirement-related liabilities that increase as a result of improved life expectancy. We focus on some developments in the risk management of the longevity risk faced by insurers and Defined Benefit pension funds. For terms used in this article click here.
Hannover Re is not only a leading reinsurer of enhanced/impaired annuities, but is also a provider of longevity solutions to employer-provided retirement funds, especially for Defined Benefit funds.
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