Index Longevity
Market Action Committee
Promoting standards and innovation in longevity risk transfer to help safeguard
the financial stability of retirement income and society’s future.
What is ILMAC?
Index Longevity Market Action Committee (ILMAC) is a group of leading industry practitioners and academics working to broaden the adoption of index-based longevity hedging. We focus on practical standards—especially how to quantify basis risk and how regulators can recognize capital relief—so insurers and pensions can manage trend longevity risk more efficiently.
What is ILMAC?
Index Longevity Market Action Committee (ILMAC) is a group of leading industry practitioners and academics working to broaden the adoption of index-based longevity hedging. We focus on practical standards—especially how to quantify basis risk and how regulators can recognize capital relief—so insurers and pensions can manage trend longevity risk more efficiently.
Why This matters
Longevity risk is a quiet, system-wide exposure behind pensions and annuities; managing it at scale demands diversified capital and clear, operational standards—here’s why.
Longevity risk is systemic
When retirees outlive funded benefits at scale, shortfalls compound across pensions and insurers, with knock-on effects for market stability, taxpayer budgets, and long-term economic resilience.
Capacity must scale
Reinsurers alone can’t meet the global need for longevity risk transfer. New, diversified sources of capital are required – principally, capital markets investors must be engaged.
Clarity unlocks adoption
Unclear standards for basis-risk measurement and capital treatment slow the adoption of index-based hedging. A recognized framework would reduce friction and improve market efficiency.
Initiatives
We’re connecting industry, academics and regulators to advance longevity risk management.
Thought Leadership
Developing cutting-edge research, reports, and tools for industry professionals and regulators.
Engaging Regulators
Collaborating with key stakeholders to influence policy and promote best practices in the longevity risk market.
Promoting Standards
Developing frameworks for basis risk quantification and capital relief to enhance market efficiency.
Initiatives
We’re connecting industry, academics and regulators to advance longevity risk management.
Thought Leadership
Developing cutting-edge research, reports, and tools for industry professionals and regulators.
Engaging Regulators
Collaborating with key stakeholders to influence policy and promote best practices in the longevity risk market.
Promoting Standards
Developing frameworks for basis risk quantification and capital relief to enhance market efficiency.
Meet Our Experts
Discover the diverse team of industry professionals and scholars driving transparency and innovation in the longevity risk sector.
David Blake
Professor of Finance at Bayes Business School Director of Pensions Institute
Andrew Cairns
Professor of Actuarial Mathematics and Statistics at Heriot-Watt University
Avery Michaelson
Founding Partner
Longitude Solutions
Guy Coughlan
Chief Operating Officer
Clota Värde
Paul Kitson
UK Head of Pensions Consulting
EY
Join us in Shaping the Longevity Market
Help ILMAC drive advancements in longevity risk management and foster a resilient financial future. We are eager to have your expertise and assistance on our mission.