Club Vita restructures to meet growing international demand for longevity data services
LONDON & TORONTO & HOBOKEN, NJ–(BUSINESS WIRE)–ClubVitaan international leader in longevity analysis, today announced the consolidation of its UK, US and Canada operations under a single parent company, Club Vita LLP.
Club Vita was founded in the UK in 2008 by Hymans Robertson LLP; in 2015 Club Vita Canada was established by Eckler Ltd; in 2019, Club Vita US was launched as a joint venture. Club Vita’s goal is to provide all pension funds, pension advisers, the insurance industry and asset managers with market-leading longevity data services. Club Vita now has more than 50 employees and maintains relationships with 400 pension funds, 7 pension advisory firms and 25 insurers worldwide. This merger transfers three separate Club Vita businesses from founders Hymans and Eckler to a newly created and operationally independent company, Club Vita LLP.
“We are excited to launch this new chapter as an independent data analytics company, designed to help a growing range of organizations deliver innovative solutions in managing longevity uncertainty,” said Jennifer Haid, Group CEO Club Vita LLP. “From a statistical perspective, we have learned that the similarities between countries in longevity patterns run deeper than their differences. Our Big Data philosophy is driving an international standard for longevity analysis and effectively enables a wider range of insight-fueled analysis across multiple markets.
Douglas Anderson, Chief Visionary Officer, added a personal note: “I am truly grateful to Hymans Robertson and Eckler for their support during our formative years. Without their confidence in our vision and our investment, Club Vita would not have reached the milestone of today. I would also like to say a big thank you to Ian Edelist, who led Club Vita Canada to become the leader in longevity analysis in Canada, but is stepping down now that Club Vita Canada is formalizing its independence from of Eckler.
About Club Vita:
Club Vita’s mission is to improve the financial well-being of seniors by promoting awareness of longevity risk and making its management transparent and efficient.
We primarily work with occupational pension funds in the UK, Canada and the US. On their behalf, we facilitate the accumulation and pooling of data underlying the longevity models of retirees with annuity benefits. Club member pension funds and their advisors use our analytics to understand their emerging longevity patterns, to make more informed strategic decisions, and to incorporate risk management best practices into their governance frameworks. We also support financial institutions that manage longevity risk: insurers, reinsurers and asset managers, helping them to offer attractive longevity risk protection products in an efficient and technology-based way. Our current community includes 400 pension funds, 7 pension advisory firms and 25 (re)insurers. At our three clubs, we follow the survival patterns of a diverse population of more than five million people enjoying benefits in workplace pension plans.
Club Vita was born in the UK in 2008. Our systems and processes were designed by a multidisciplinary team, with a shared passion for “allowing data to speak” by combining modern technology and statistical techniques. After a successful launch in the UK, we continued to build similar communities in Canada (2015) and the US (2019).