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Indemnity derivative hits Q3 figures at Axis

Alternative Insurance Capital

Indemnity derivative hits Q3 figures at Axis

Bermudian reinsurance group Axis warned ahead of publication of its third quarter results that it expected to show a $136m increase in the fair value liability of an indemnity derivative contract exposed to longevity risk. Axis said the underlying portfolio had shown unfavourable longevity experience, but warned of considerable uncertainty in measuring the contract’s fair value.

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