Swiss Re has entered into a $2bn liability longevity reinsurance transaction the firms’ first such transaction covering US retirees. Athene participated as the transaction counterparty as part of its ordinary course risk management activities.
“Swiss Re’s financial strength and structuring experience support Athene’s mission to protect policyholders’ pension income in retirement. This transaction demonstrates Swiss Re’s continued commitment to delivering tailored longevity risk solutions to leading retirement services providers,” said Michael Bacon, Managing Director, Head of US Globals and Transactions at Swiss Re.
Swiss Re has completed more than 30 longevity reinsurance transactions between the UK, the Netherlands, Singapore and Australia, covering over $50bn of pension benefits and more than 1 million retirees.
At 17% of insurance revenue in 2025, longevity business is the second largest segment for Swiss Re’s Life & Health Reinsurance business.
