Insight and Intelligence on (Re)insurance Convergence with the Capital Markets

19 May 2012

Credit Suisse breaks swap drought

6 September 2011

Investment bank Credit Suisse has completed a £1.7bn longevity swap for British media firm ITV's pension scheme to offload the risk of the scheme's pensioners living longer than expected.

The swap covers liabilities related to 12,000 members and their dependents in the defined benefit pension scheme.

This makes it the third-biggest swap conducted to date by a UK pension scheme, advisory firm Towers Watson said in a statement.

Credit Suisse's last longevity swap was the £1.2bn swap for Babcock International...

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