Pooling longevity risk sounds like an elegant solution. But when mortality differs significantly between socioeconomic groups, the mathematics can produce a surprising – and potentially unfair – outcome.
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MARIA ARAGONA has a PhD in Economics at Universit à di Torino (Italy). She currently works in the Risk Management Unit at Reale Mutua Assicurazioni. |
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LUCA REGIS is Associate Professor of Financial and Actuarial Mathematics at Universit à di Torino (Italy), Affiliate at Collegio Carlo Alberto and Deputy Director of the LTI@UniTO Research Center. |
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ELENA VIGNA is Full Professor of Financial and Actuarial Mathematics at Universit à di Torino (Italy) and Fellow at Collegio Carlo Alberto. |
This article was published in The European Actuary No. 47 – September 2026
