MANAGING LONGEVITY RISKS In markets around the world, the financial industry is facing unprecedented challenges in managing the risks associated with increased life expectancy. Pension funds and insurance companies must navigate the complexities of ensuring they have adequate resources to meet the long-term needs of their pensioners and policyholders. This growing concern highlights the critical need for effective longevity risk management strategies. Longevity risks differ greatly from country to country: both national demographics and the structure and availability of government and employer support make a “one-size-fits-all” solution nearly impossible. SCOR draws upon our long-standing longevity business in the UK and local expertise in each market to apply a datadriven approach to bring relevant solutions to our clients around the world. For example, we partner with the UK’s leading provider of medically underwritten longevity cover. Importantly, we consider lifestyle factors such as BMI, alcohol consumption, and smoking, as well as medical impairments like myocardial infarction or cancer in order to provide a fairer price for all individuals approaching retirement. In the coming years, our team will continue to write longevity solutions in markets such as the UK, Canada, the Netherlands, and the US, while also exploring emerging opportunities in Australia and Western Europe. By staying ahead of market trends and continuously innovating, SCOR aims to meet the growing global demand for longevity solutions. LONGEVITY SOLUTIONS THAT HIT THE MARK SCOR’s longevity solutions speak to our overarching strategy of providing innovative and customized solutions to meet the unique needs of clients. By focusing on longevity, SCOR not only addresses a critical risk but also reinforces our commitment to delivering tailored offerings that align with the specific market conditions and challenges faced by clients. Our team works closely with clients to understand their unique requirements and so develop solutions that are both effective and sustainable. This collaborative NAVIGATING LONGEVITY RISK SCOR brings tailored solutions for financial security and stability As people live longer, longevity risk – the risk that people outlive their savings or that pension funds find themselves paying an individual longer than expected – is growing and managing this risk has become increasingly important. SCOR’s longevity solutions address this challenge by providing tailored offerings that align with clients’ needs based on unique market conditions and other factors. By leveraging medical underwriting data and our longstanding expertise in this area, SCOR ensures financial security and stability for clients, reinforcing our commitment to design and execute customized solutions. 76 ACTIVITY REPORT 2024
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