LONDON, 11 August 2025 – Aon plc (NYSE: AON), a leading global professional services firm, has advised NN Life on broking the longevity risk on a back book of €4 billion of defined benefit collective pension plan contracts.
NN Life, part of NN Group, is a major Netherlands life insurance company. The €4 billion of pension plan liabilities covered by this transaction contains 96,000 unique policies, representing pensions in payment and deferred pensions for members aged 50 and over.
Marc Meertens, head, balance sheet management and reinsurance, NN Life, said:
“Aon’s expertise and experience in the Dutch longevity market enabled us to bring this transaction to a timely and highly successful conclusion. The transaction helps us to continue to manage our exposure to longevity risk, our solvency dynamics and to create capacity for expected future growth in the Netherlands buyout market.”
Matthew Fletcher, associate partner and head of Demographic Horizons at Aon, said:
“This is the fourth significant longevity hedge transaction on which Aon has advised NN in recent years. Reinsurer engagement and interest in hedging Netherlands longevity risk has been strong, with bulk annuity activity expected to increase due to the Dutch Future Pensions Act. We’ve also seen increased appetite from reinsurers to hedge longevity risk for individuals pre-retirement – and this was a key part of this transaction.
“As was the case with previous transactions, Demographic Horizons, Aon’s framework for modelling mortality and other demographics, including the leading base mortality postcode model for the Netherlands, was instrumental in our advice to NN.”
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