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Longevity risk: A new global market?

Author

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  • Hudson, Robert

Abstract

This paper discusses the potential new global market for longevity risk. It outlines how uncertainty over longevity, low investment returns and greater accounting disclosures have created a large demand for hedging longevity risk. It quantifies the size of UK and world exposure to this risk and describes the various parties affected by the risk. It goes on to discuss possible counterparties to the risk and determines that only the investment community has the capacity to accept a significant proportion of the liability. Finally, it discusses methods and instruments that may be used to trade the risk before offering conclusions.

Suggested Citation

  • Hudson, Robert, 2007. "Longevity risk: A new global market?," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 1(1), pages 74-89, December.
    • Handle: RePEc:aza:rmfi00:y:2007:v:1:i:1:p:74-89
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    More about this item

    Keywords

    longevity risk; pension fund; insurance; derivatives;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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