RAC pension scheme switches $900 mln of longevity risk to SCOR-adviser

November 30, 2015 9:25 AM

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LONDON Nov 30 The pension scheme of UK roadside recovery group RAC has transferred 600 million pounds ($900.12 million) of longevity risk to French insurer SCOR, adviser Hymans Robertson said on Monday.

The longevity swap transfers the financial risk of one quarter of the RAC pension scheme members living longer than expected to SCOR.

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