OLDWICK, N.J.--(BUSINESS WIRE)--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.
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