Demeter Capital is a specialist in the longevity markets.
We offer a dynamic approach to provide structured solutions, underwriting, advisory, and trade arrangements to large institutional clients globally.
Longevity mortality experts with over 100 years of cumulative experience and over 10 years of trading in the longevity market, the team has transacted in over $20bn longevity risk in swaps, notes, and bespoke indices on US, UK, and European longevity and mortality risk since 2003.
Demeter has helped large insurance companies and asset managers evaluate investment objectives, re-underwrite risks, optimize origination specific longevity-based structures, and monetize positions.
- Team cohesion and track record dates back to 2006
- Over 100 years of cumulative experience within the longevity market
- Senior Actuary on staff with over 40 years of pensions and life insurance experience
What We Do
- Origination and Brokerage
- Help institutional clients access alternative risks in US, UK, and Europe
- Specialize in longevity and mortality risk; specifically US Life Settlements, longevity/mortality swaps, and Pension risk transfer solutions
- Transact with over 50+ Institutional Investors Globally
- Optimize trade strategy to achieve best execution
- Over $16bn traded in life settlement market since 2006
- Transacted in over $10bn reinsurance contracts with UK, US, and European risk
- Over $8bn traded in longevity and mortality swaps
- Advisory Services
- Underwriting analysis and evaluation of longevity or mortality transactions.
- Analyze and Structure longevity and mortality investment risks
- Analyze and Structure UK and European Insurance Company and Pension risk
- Analyze and Structure longevity or mortality hedges
- Structure investments into various formats based on investor requirements
- Optimize cash flows in longevity, mortality, and life settlement transactions
- Restructure existing longevity and mortality derivative positions
- Proprietary trading models based off 10+ years in the longevity market
- Expert Litigation Consultant
- Advise multiple institutions on Insurance related litigation matters
- Calculated the non-monetary settlement in Class Action Settlement against Phoenix Life Insurance Company
Marcos is a co-founder, company director and the Chief Executive Officer. Prior to his role as a co-founder, Marcos started Hibiscus Capital in 2012 which advised large private equity funds and insurance companies and as well as CEO at N+1 Credit Solutions and Finalbion. Prior to 2012 Marcos was a Managing Director in the Longevity Markets Group at Credit Suisse where he helped develop the global strategy of the longevity business as well as having overall global responsibility for the team which originated, structured and distributed longevity risk. Before 2007 Marcos led the Fixed Income structuring teams at Credit Suisse for Europe and Latin America. Marcos joined Credit Suisse in 2000 when it purchased Donaldson, Lefkin & Jenrette, where he was a member of the Latin American Structuring team. Prior to this, Marcos worked at an affiliate of the Spanish development bank, Banco Exterior de Espana, based in Mexico. Marcos holds a Masters of Business Administration degree.
James is a co-founder, company director and the Chief Investment Officer. At Demeter Capital James was a founding partner who was responsible for longevity risk assessment in the US Life Settlement market and European Pension market. From 2011 to 2014 James was a Managing Director at Fortress Investment Group, responsible for the underwriting and optimization of a ~$10bn Life Settlement position. Prior to Fortress, James spent 11 years at Credit Suisse where he was a Director in the Longevity Markets Group and had global responsibility for the development of structured products and longevity derivatives linked to life settlements and European pension schemes. Prior to that role, James was in the Risk Management Division at Credit Suisse. Prior to joining Credit Suisse James was a manager within the Risk Control division at Sumitomo Bank and a manager in the Financial Institutions Group at Deloitte and Touche. James is a Chartered Accountant (ACA-qualified) in 1997 and holds a Bachelor of Electronic and Electrical Engineering degree.
Keith is a company director and the Chief Operating Officer. He has nearly 20 years of investment banking and financial market experience having worked at Credit Suisse in both London and New York from 1997 to 2016. Keith’s last position at Credit Suisse was as a Managing Director and Global Head of Marco Investor Products as well as being a member of the European Fixed Income Operating Committee. From 2006 to 2011 along with Marcos and James he was a leading member of the Credit Suisse Longevity Markets Group which structured and executed a number of pioneering synthetic longevity/mortality deals in the financial markets. Keith was also internal legal counsel at Credit Suisse in New York supporting various fixed income structuring businesses including the Latin American team. Keith is a New York State qualified attorney (retired) and holds an MSc in International Securities, Investment and Banking as well as a Law (LLB (Hons)) degree.
Demeter has been recognized as a thought leader in the longevity and mortality risk investment market. With a high level of technical sophistication, Demeter represents large, sophisticated clients globally and has been an expert consulting advisor to multiple litigation cases in the United States.1
Over $16bn traded in life settlement market since 2006
Transacted in over $10bn reinsurance contracts with UK, US, and European risk
Over $8bn traded in longevity and mortality swaps
Structured first UK Pension Swap for a large European bank
$2.1bn Regulation 30 capital relief transactions for Insurance Companies
$1.6bn transacted in Annuities
Calculated the non-economic monetary value of case settlement for the Class-Action lawsuit against an insurance carrier (Phoenix Life Insurance Group)Download
$3.7bn Structured in Premium Finance Loans
Henry Wood House
2 Riding House Street
London W1W 7FA
Demeter Capital Ltd is a limited company registered in England and Wales under Registered Number 09426475. Registered Office: 2 Riding House Street, London, W1W 7FA. Demeter Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA), FRN: 745647