​As the population ages, there is a growing demand among retirees for guaranteed lifetime income. At RGA, we use our extensive mortality and underwriting expertise to develop profitable longevity products to meet this growing need.

We can help you understand the potential risks around future longevity improvements, as well as assist with the design and pricing of solutions that offer an enhanced lifetime annuity to individuals with lifestyle or medical characteristics, known as underwritten, enhanced or impaired annuities.

In addition to helping you with new longevity business, our Financial Solutions team can also help you manage the longevity risk already present on your balance sheet. We have significant experience using longevity products as a financial management tool through a longevity benefit or reserve swap, or through coinsurance.

Longevity products vary considerably around the world depending upon the type of retiree benefits provided by the government and employers. As a global company, we provide longevity reinsurance in many of the major world markets.

U.S. Markets

Historically, longevity products have been a small market in the U.S. as most retirees have relied upon defined benefit plans and Social Security to provide lifetime income protection. However, in the last two decades, corporations are moving away from defined benefits and many retirees are finding they have accumulated assets, but they do not have guaranteed streams of income.

This is occurring because U.S. retirees often take a lump sum at maturity on products such as 401k, IRA and 403-b retirement plans, instead of opting for a steady income for life. As a result, many U.S. retirees are concerned about their ability to fund a comfortable retirement and are asking for longevity and lifetime income products. At RGA, we can develop profitable longevity products to help you compete in this emerging market.

Canada and International Markets

Outside the U.S., we have focused on countries such as the U.K. and Canada that have a large pool of tax-advantaged savings that must be annuitized and where there is a solid base of statistical information pertaining to the longevity of individuals. In the U.K., we are leaders in the field of individually underwritten lifetime annuities and RGA Canada placed the first longevity transaction in the Canadian market in 2010.

We also focus on countries with well-established pension markets such as Spain, South Africa, Australia and Japan. We leverage our proficiency in mortality table development and underwriting from the protection market and apply it directly to the longevity market.

To learn more about our longevity reinsurance expertise in your market, please click on the Global Directory to find the RGA location that is of interest to you.