Gender discrimination ruling leaves annuity providers confused over capital
UK annuities providers cannot price for gender, but must still reserve capital for it
The ruling by the Court of Justice of the European Union that gender could not be used as a factor in pricing insurance premiums, despite its inclusion in the Solvency II longevity risk capital requirements, risks sending contradictory signals to insurers, and is driving annuities providers to concentrate on lifestyle risk factors, according to a leading insurer.
Female annuitants have a longer life expectancy, although there is no consensus on how much of this is intrinsic and how much is due
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