Merchant Navy Officers Pension Fund enters £1.5bn longevity swap

Stephanie Baxter
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The trustee of the Merchant Navy Officers Pension Fund (MNOPF) has hedged the longevity risk for £1.5bn of the scheme's members.

The risk was insured by MNOPF IC, a newly-established Guernsey company, and was ultimately reinsured by Pacific Life Re. The swap covers the longevity risk associated with 16,000 members of the sch...

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