Discussion Paper
Life Insurers’ Role in the Intermediation Chain of Public and Private Credit to Risky Firms
Carlino, Sydney; Foley-Fisher, Nathan; Heinrich, Nathan; Verani, Stéphane (2025-03-21)
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.
FEDS Notes , Paper 2025-03-21-1