Spike In Middle-Aged Deaths Poses Conundrum For UK Insurers [BNN Bloomberg (Canada)]
LEGAL&GENL GRP PLC S/ADR (LGGNY)
NASDAQ:AMEX Investor Relations:
merriam-webster.com/dictionary/legal
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Source: BNN Bloomberg
The mortality rate for 40- to 44-year-olds worsened the most in the first half of 2023, analysis of Office for National Statistics data showed. The number of age-standardized deaths per 100,000 rose 6% in the same period, following two years of declines. This marks a potential turning point for the age-standardized mortality measure, which has been steadily improving since the 1990s. BI analysts wrote they expected the new trend to be sustained for the full year, though the underlying reasons for the change were unclear. Even though insurers' pensions and other savings products act as a natural hedge against long-term changes in mortality patterns, the rise in deaths for the 40- to 44-year-old cohort, if sustained, would impact the pricing of all life and insurance products, according to BI. “If this develops into a trend, it could reduce term-assurance profit at market leaders Legal & General and Aviva,” BI analysts Kevin Ryan and Juliet Abiola said. “This is potentially signi
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