%0 Journal Article %A Wolfgang Murmann %A Richard Morris %T Longevity Risk: The Reshuffle Begins %D 2012 %J Special Issues %P 18-24 %V 2012 %N 1 %X Longevity poses a huge financial risk to corporate pension schemes, insurers, reinsurers, and governments, with defined benefit pension schemes holding an estimated $25 trillion of unhedged longevity risk and life expectancy continuing to increase beyond expectations. This article sets out innovative approaches to passing on this risk to appropriate risk holders and the capital markets, using longevity swaps, contingent equity longevity bonds, and synthetic buy-in structures. %U https://guides.pm-research.com/content/iijspecial/2012/1/18.full.pdf