Just when longevity swaps seem all but dead and buried, ITV surprises us and announces a £1.7bn deal with Credit Suisse to fully hedge the longevity risk for 12,000 of its pensioner members.
Under the contract - said to be the third-largest of its kind in the UK to date – the broadcast giant will make fixed monthly payments to Credit Suisse, who will, in turn, make payments to the sche...
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