A $700 Billion Insurance Product Is Powering the US Credit Market Rally
February 20, 2024 by Olivia Raimonde and Alicia Clanton
An insurance product that consumers use to help fund their retirements is selling at record levels, powering demand for corporate debt and commercial mortgage bonds.
Last year, sales of annuities, which allow consumers to effectively buy income for the rest of their lives, reached an all-time record high of $385 billion, according to life insurance trade group Limra.
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Originally Posted at Bloomberg on February 12, 2024 by Olivia Raimonde and Alicia Clanton.
Categories: Industry Articles