HSBC completes £7bn longevity swap with Prudential
By IAN Editorial Desk
News date: 15 February 2019Published 24 May 2026·5 min read
By IAN Editorial Desk HSBC Bank (UK) Pension Scheme has executed a £7 billion longevity swap with Prudential Insurance Company of America (PICA),...
HSBC Bank (UK) Pension Scheme has executed a £7 billion longevity swap with Prudential Insurance Company of America (PICA), transferring a substantial portion of its pensioner longevity risk to the US insurer. Completed in 2019, the deal ranks as the second largest longevity risk transfer ever completed for a UK pension scheme and uses a Bermuda captive structure at HSBC…
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