28 September 2017

Carey Olsen advises Marsh on longevity risk transfer

Carey Olsen's corporate team in Guernsey has advised Marsh Management Services Guernsey Limited, a wholly owned subsidiary of Marsh & McLennan Companies (MMC), on a transaction to transfer £3.4 billion of MMC UK's longevity risk liabilities.

The captive-style approach used two incorporated cells in Mercer ICC Limited, an incorporated cell company managed by Marsh Guernsey, to transfer the risk of the MMC UK Pension Fund to the reinsurance market in the largest UK pension deal of this type since 2014.