MW GLP-1 drugs could save millions of lives - and spark a pension crisis

By Steve Goldstein

GLP-1 drugs could save millions from premature death, according to projections from Swiss Re.

Here's the good news: The GLP-1 class of weight-loss drugs is so powerful that, in 20 years, those drugs can save millions from premature death, a leading insurance company says.

That's also the bad news: The increased longevity will extend the duration of pension payouts.

That's the conclusion put forward in new research from Swiss Re (CH:SREN), the reinsurance giant, about the weight-loss drugs from Novo Nordisk (NVO), Eli Lilly $(LLY)$ and others.

Swiss Re said that all-cause mortality could drop by up to 6.4% in the U.S. and by 5.1% in the U.K. due to the benefits of taking the drug.

While the elderly population may enjoy the increased life expectancies, it could come with some additional costs - literally.

"While improved metabolic health may be positive for mortality and critical illness business, it could create financial pressure for longevity portfolios, as extended lifespans increase the duration of pension payouts," the firm added.

The insurer noted that the U.S. has the highest obesity rate in the developing world, at over 40% now, which is projected to exceed 55% without any intervention.

The U.K. has similar problems.

Swiss Re assumed that a majority of the population overweight or with obesity use the drugs with "some sustained lifestyle changes."

They also acknowledged risks from those who don't alter their lifestyles or who discontinue the drugs - as well as the attendant loss of lean muscle and mass and bone density.

For the life and health insurers, the GLP-1 drugs are a trade-off, as current drug costs are likely to exceed savings from mortality improvements. But Swiss Re said targeted use may bring benefits.

-Steve Goldstein

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September 17, 2025 10:05 ET (14:05 GMT)

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