In 2007 Goldman launched a “mortality index” based on the thought that they could profit from the upcoming mass-ageing of the baby boomer generation.
If someone sells their policy and then dies, the investor collects that person’s death benefit.
Anyway, it hasn’t worked out so well and now Reuters reports that Goldman Sachs (GS) is getting out of the business enitrely.
It was never a huge business either way, according to Goldman MD Steven Strongin, and this has the added benefit of being good for PR.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.