Annuities. Sell the lifespan risk to an insurer.
It is a financial instrument.
It exists to relieve Will the money last as long as the life, Money must arrive every month without a job and The money may run out before the life does. That is the whole reason it is here: nothing enters this map without a human problem behind it.
It could not exist without Actuarial science and Insurance regulation. These are the quiet preconditions — remove any one and the solution stops working.
Solving that problem created new ones: The product that solves lifespan risk is opaque and expensive. Follow those and you find the next generation of products built on top of this one.
16 organisations in this map sell it, 10 of them publicly listed.
Its neighbourhood
Everything this entry connects to directly. Click any point to follow it.
The line back to a human being
2 hops from a person at a phase of life. The further a thing sits from the person, the more abstract it looks — and the more it tends to be mistaken for something that came from nowhere.
- SolutionAnnuities
- FrictionWill the money last as long as the life
- Life phaseLate career
- Rooted inMortality
- Rooted inScarce resources
- Rooted inUncertainty
Relieves
Created these new problems
Second-order frictions. This is where most of the modern economy actually lives.
Requires
Who sells it
| Organisation | Value | Type | Products |
|---|---|---|---|
| KKR | $120B | public · KKR | private equity, private credit, Global Atlantic |
| Brookfield | $100B | public · BN | infrastructure, real estate, renewables |
| Apollo Global Management | $80B | public · APO | private credit, Athene annuities |
| Life Insurance Corporation of India | $65B | government · LICI | life insurance, annuities |
| MetLife | $55B | public · MET | group life, disability, dental |
| Ameriprise Financial | $50B | public · AMP | financial advisors, annuities |
| Prudential Financial | $40B | public · PRU | term and permanent life insurance, annuities, retirement plans |
| Legal & General | $18B | public · LGEN | annuities, pension risk transfer, asset management |
| Corebridge Financial | $18B | public · CRBG | annuities, retirement plans |
| Fidelity National Financial | $16B | public · FNF | title insurance, F&G annuities |
| Lincoln Financial | $6B | public · LNC | life, annuities, group benefits |
| Nippon Life | mutual | life insurance, Resolution Life | |
| Nationwide Mutual | mutual | auto, home, life | |
| New York Life | mutual | whole life, annuities, long-term care | |
| MassMutual | mutual | whole life, disability, annuities | |
| TIAA | nonprofit | retirement plans for educators, Nuveen |