Club Vita and Longitude Exchange, the new digital longevity marketplace platform, announce new collaboration

Hamilton, Bermuda – Club Vita, an international leader in longevity analytics, and Longitude Exchange, the new digital marketplace for trading longevity and mortality risk, today announced their collaboration to improve the efficiency and transparency of the longevity risk transfer market.

The two companies are collaborating to integrate Club Vita’s leading longevity risk classification services into Longitude Exchange’s digital platform, allowing risk takers and cedants to tailor longevity risk derivative instruments specifically to their needs while encouraging the development of a liquid secondary market.

“We’re very excited to see the launch of Longitude Exchange,” said Douglas Anderson, Founder and Chief Visionary Officer of Club Vita, “with the expected rapid growth in volume of pension risk transfer deals in the UK, US and Canada in the coming years. We have long believed that an effective way to parameterize and trade longevity risk will become essential for increasing capacity in the market. This will be vital in enabling more pension plans and insurers to transfer and manage their longevity risk, and ultimately improve the financial security of pensioner populations worldwide. We’re now seeing strong demand for longevity risk transfer, and greater interest in parametric forms of structuring contracts.”

“Any market needs an agreed unit of measurement for it to function – and the longevity market is no different.” said Avery Michaelson, Founder of Longitude Exchange. “With the classification systems developed by Club Vita to parameterize longevity trend risk for pension and annuity liabilities, we can enable market participants to trade in a common currency, effectively matching up buyers and sellers and encouraging secondary trading by appealing to a broad spectrum of risk takers.”