Life Insurers’ Role in the Intermediation Chain of Public and Private Credit to Risky Firms
Posted: 14 Apr 2025
Date Written: March, 2025
Abstract
This note quantifies life insurers' role in the intermediation of public and private credit to risky firms. Since the 2007-09 financial crisis, the share of life insurers' general account assets exposed to below-investment-grade ('risky') corporate debt has roughly doubled.
Suggested Citation: Suggested Citation
Carlino, Sydney and Foley-Fisher, Nathan and Heinrich, Nathan and Verani, Stephane, Life Insurers’ Role in the Intermediation Chain of Public and Private Credit to Risky Firms (March, 2025). FEDS Notes No. 2025-03-21-1, Available at SSRN: https://ssrn.com/abstract=5214534 or http://dx.doi.org/10.17016/2380-7172.3691
Nathan Foley-Fisher
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
Nathan Heinrich
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
Stephane Verani
Board of Governors of the Federal Reserve System ( email )
20th Street and Constitution Avenue NW
Washington, DC 20551
United States
HOME PAGE: http://www.federalreserve.gov/econresdata/stephane-verani.htm
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