UBS has appointed Barnett Waddingham to provide administration and actuarial oversight services for its longevity swaps.
The appointment has been made as the investment bank looks to extend its offering to the growing market for longevity swaps, helping large pension schemes hedge the risks of paying out for longer to ageing memberships.
In early 2010, UBS announced its move into longevity swaps with the appointment of a pensions team which became part of the UBS fixed income, currencies and commodities, Europe, Middle East and Africa (EMEA) insurance and pensions industry group.
Paul Jayson, partner at Barnett Waddingham, said: “We look forward to working with UBS in an area that is becoming more popular as buy-out capacities become more expensive and organisations look for an alternative way to manage risk.”
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