A Moody's survey of rated US life insurers puts the allocation at 1.9% of cash and invested assets in 2025, up from 1.3%.
The NAIC is reviewing how US life insurers treat rated note feeders on their statutory balance sheets. A Moody's survey of rated US life insurers puts fund finance at 1.9% of cash and invested assets in 2025, up from 1.3%.
The increase from 1.3% to 1.9% is a relative rise of about 46%. Rated note feeders are a private-credit structure within fund finance.
Reported by The Wrap desk from Insurance Capital Daily coverage item. Published . Corrections
The letter to Senator Warren sizes the book; the ratings and valuation reviews inside it decide what holding it costs.
Tranched fund stakes and sliced NAV loans hand the general account a new asset class — and a wager on an exit calendar it does not control.
The managing general underwriter has not disclosed capacity providers, property lines or premium targets.
Balance-sheet strength is assessed as very strong, with three-quarters of assets in a parent promissory note.
He cites sidecars, broker facilities and investor-backed managing general agents as property pricing pressure spreads.
Annuities, general-account allocations and insurance-dedicated funds. Weekdays at 7:05 a.m. ET.
Free. Weekday mornings. Unsubscribe from any edition in one click.