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Risk of Life Insurers: Recent Trends and Transmission Mechanisms

Ralph Koijen and Motohiro Yogo

No 23365, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We summarize recent trends in risk exposure for U.S. life insurers from variable annuities, shadow insurance, securities lending, and derivatives. We discuss how these sources of risk could be amplified and transmitted to the rest of the financial sector and the real economy. More complete and transparent financial statements are necessary to accurately assess the overall risk mismatch in the insurance industry. We suggest ways to disclose relevant information and discuss some implications for insurance regulation.

JEL-codes: G12 G21 G22 (search for similar items in EconPapers)
Date: 2017-04
New Economics Papers: this item is included in nep-ias and nep-rmg
Note: AP
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