Life and Annuity Issuers Show Their Interest Rate Pain
April 11, 2023 by Allison Bell
How much have spiking interest rates squeezed life and annuity issuers in the past year?
Enough to give the issuers’ rate-smoothing reserves a big, hard, painful pinch.
The big U.S. life insurers that Fitch Ratings watches put about $15 billion in realized losses into their interest maintenance reserves (IMRs) in 2022, after putting $15 billion in gains into their IMRs in 2020, and about $9 billion in gains into their IMRs in 2021, according to a new report.
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Originally Posted at ThinkAdvisor on April 4, 20223 by Allison Bell.
Categories: Industry Articles