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Slaughter and May

Financial Services - Longevity risk and mortgages 2009

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Award levelCommended
InnovationEnabling Standard Life Assurance to transfer longevity risk to Canada Life International
Originality5
Rationale6
Impact6
Total17
DescriptionThrough a 'deposit back' structure, the firm reduced counterparty risk. It ensured that in the event of default by the reinsurer, the seeding office would still have the assets. In effect, a safety net against credit risk