Swiss Re Announces USD 2 Billion Longevity Reinsurance Transaction

Swiss Re has announced its first USD 2 billion longevity reinsurance transaction covering US retirees. This milestone builds on Swiss Re's successful experience in the UK, Netherlands, Singapore, and Australia. The transaction involves Athene as a counterparty, reflecting regular risk management activities.

Michael Bacon of Swiss Re highlighted the importance of this transaction in supporting pension income protection. With extensive experience in the longevity risk transfer market, Swiss Re is committed to providing tailored solutions. The company has facilitated over 30 longevity reinsurance transactions, covering substantial pension benefits globally.

Longevity reinsurance is crucial for pension providers to ensure promises are met, especially given increasing life expectancies. In 2025, longevity business constituted 17% of Swiss Re's insurance revenue. With more pension liabilities being transferred to insurers, Swiss Re anticipates growing demand for these solutions.