Investment banks mull creation of 'longevity risk' market

A group of investment banks is considering establishing a market in "longevity risk" that would target insurance companies, banks, pension funds and hedge funds, according to a professor of pensions economics in London.

Dr David Blake, a professor at Cass Business School and a director of think tank the Pensions Institute, declined to name any of the banks but said a market could be set up "soon".

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