Agency / Source: SCOR SE

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

SCOR Global Life Participates in Largest Ever Pension Scheme Longevity Swap with Aviva - SCOR Global Life, a subsidiary of SCOR SE, has entered into a longevity transaction with the UK-based insurer Aviva - SCOR.com
SCOR Global Life Participates in Largest Ever Pension Scheme Longevity Swap with Aviva

 

PRZOOM - /newswire/ - Paris, Ile de France, France, 2014/03/06 - SCOR Global Life, a subsidiary of SCOR SE, has entered into a longevity transaction with the UK-based insurer Aviva - SCOR.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Insurance / Risk Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

The transaction covers pensions in payment of some 19,000 pensioners who are members of the Aviva Staff Pension Scheme. The risk of these members living longer is transferred from Aviva’s pension scheme to the reinsurance market. The associated liabilities are approximately GBP 5 billion, which makes this the largest pension scheme longevity swap completed to date globally. SCOR is assuming a meaningful portion of this risk. The effective date of the transaction is 1 January 2014.

This is the fourth longevity swap SCOR has written to date in the UK, and it confirms SCOR’s strong franchise and expertise in this growing marketplace. The further success in the UK, following on from SCOR’s pioneering longevity transaction in the Netherlands in December 2013, bears witness to the progress already made by SCOR Global Life in terms of implementing the “Optimal Dynamics” plan. SCOR aims to double its longevity business over the course of the three-year plan while maintaining profitability levels in line with the “Optimal Dynamics” Group-wide ROE target of 1,000 bps above the risk-free rate.

Paolo De Martin, CEO of SCOR Global Life, comments:“This significant longevity transaction is fully consistent with SCOR’s risk appetite and longevity strategy and it satisfies our Group profitability criteria. Coming just a few months after closing the transaction with Aegon in the Netherlands, it demonstrates SCOR Global Life’s strong skill set in the global longevity market. SCOR is an important participant in this market and we look forward to partnering with more customers to offer longevity solutions in the months and years to come.”

Denis Kessler, Chairman and Chief Executive Officer of SCOR, comments: “This transaction is notable not only for its size but also as a demonstration of the partnership approach we adopt with our clients. With such a complex transaction, it is vital to find a solution that works for the employer, the trustees and the reinsurer. I am delighted with this further step towards meeting the ambitious targets SCOR has set out in its “Optimal Dynamics” three-year plan.”.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Insurance / Risk Management Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: SCOR SE

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Insurance / Risk Management articles,
CATCH Visitors via Your Competitors Announcements!


SCOR Global Life Participates in Largest Ever Pension Scheme Longevity Swap with Aviva

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
SCOR SE |
Contact: Press Office - SCOR.com 
+33(0)1 58 44 70 00 press[.]scor.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any SCOR SE securities in any jurisdiction including any other companies listed or named in this release.

Insurance / Risk Management via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From SCOR SE / Company Profile


Read Insurance / Risk Management Most Recent Related Press Releases:

Zelros Receives the 2021 European Technology Innovation Leadership Award from Frost & Sullivan
Verisk Analytics Lauded by Frost & Sullivan for Pioneering Telematics Data Exchange for Usage-Based Insurance in North America
FIS Named Category Leader in Chartis Report for Sell-Side Risk Management Technology
ALM Launches FC&S Expert Coverage Interpretation
Auto Insurers Seize Growth Opportunities by Offering Financial and Insurance Tools Over Digital Platforms
Insurance and Benefits Thought Leaders Set to Gather At 15th Annual BenefitsPRO Broker Expo
TrustArc Expands Industry-Leading Privacy Platform with New Intelligent Assessments, Compliance Reports and Dashboard
TrustArc Introduces Intelligence Engine to Automate Privacy Risk Management
ShieldSquare Commended by Frost & Sullivan for Offering Granular Bot Risk Management through its Real-time Bot Mitigation Solution
Asurion Acclaimed by Frost & Sullivan for its Innovative Tech Help Platform for the Retail Protection Services Market

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit  Limelon Advertising, Co.

Visit  JobsWare.com

Visit  MONOVERSE USA, Inc.







 
  ©2021 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today