A.M. BestTV: The Week Ahead; Longer Lifespans May Bring a Heavy Cost

OLDWICK, N.J.--()--In this episode of A.M. BestTV, insurance industry executives discuss how longevity risk presents an opportunity to the insurance industry if it's able to handle all the risk. George Graziani, a senior vice president at Swiss Re, called the amount of longevity risk "epic" as the average life expectancy increases. Longevity risk is the financial risk that an individual or a group or individuals will outlive their savings, and the U.S. Department of Health and Human Services estimates that the percentage of Americans 65 and older will rise to 19% of the total U.S. population in 2030, from 13% in 2009. Graziani said the insurance industry is the logical home for the risk, because the life insurance industry can help offset the risk. Asha Attoh-Okine, managing senior financial analyst of insurance-linked securities at A.M. Best Co., said that to some extent, the capital markets would likely need to come into play, predominantly through longevity bonds. Click on http://www.ambest.com/v.asp?v=longevity314 to view the program.

People who appear in this episode include:

  • George Graziani, Senior Vice President, Head of Longevity for North America, Swiss Re;
  • Steven Weisbart, Chief Economist, Senior Vice President, Insurance Information Institute; and
  • Asha Attoh-Okine, Managing Senior Financial Analyst, A.M. Best Company.

Additionally, this episode takes a 60-second look at the week of March 10, including insurance-related conferences of note.

A.M. BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M. BestTV episodes at www.ambest.tv.

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  • AAMGA, Lloyd's Talk Regulation: Bernie Heinze, who heads up the American Association of Managing General Agents, discusses talks with Lloyd’s over avoiding redundant compliance requirements as regulatory shifts occur: http://www.ambest.com/v.asp?v=aamga2314

A.M. Best Company is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best Company
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com

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Contacts

A.M. Best Company
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com