Living with Mortality : Longevity Bonds and Other Mortality-linked Securities

  title={Living with Mortality : Longevity Bonds and Other Mortality-linked Securities},
  author={By D. Blake and Andrew J. G. Cairns and Kevin Dowd},
This paper addresses the problem of longevity risk ö the risk of uncertain aggregate mortality ö and discusses the ways in which life assurers, annuity providers and pension plans can manage their exposure to this risk. In particular, it focuses on how they can use mortalitylinked securities and over-the-counter contracts ö some existing and others still hypothetical ö to manage their longevity risk exposures. It provides a detailed analysis of two such securities ö the Swiss Re mortality bond… CONTINUE READING
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