Longevity/mortality team of the year: Hymans Robertson
Keeping track of longevity and mortality trends is hugely important to re/insurers as it can have a significant impact on liabilities and profits.
Firms will seek out the most up-to-date and informative insights and, according to InsuranceERM’s judges, Hymans Robertson’s longevity team led the way once again.
In a continually evolving environment, the team has helped clients manage longevity in many forms, whether it be setting longevity assumptions or pricing bulk annuity transactions.
For example, to support the increased demand for transferring deferred longevity risk, Hymans Robertson has developed VitaExchange Plus, an in-depth non-pensioner research programme to enable re/insurers to deliver solutions to this growing market.
With VitaExchange Plus, Hymans Robertson has been able to investigate data on over 9m individuals to understand the underlying risk drivers, including individual transfer behaviour, retirement decisions and mortality experience, and support more confident pricing.
Notable projects have ranged from the largest back book deal to take place this year, to assisting entry-level insurers with multiple deals at the smaller end.
The business now advises 8 out of 10 reinsurers and 75% of the bulk annuity market by market share.
Emma McWilliam, head of life & financial services at Hymans Robertson, says: “We continue to be the leading source of longevity and mortality tools and advice for existing and prospective participants in both the bulk annuity and protection markets.”