US Life Insurers Face 'Manageable Risk' as Bank Fears Cross Atlantic -- Market Talk

Dow Jones2023-03-16

17:48 ET - US insurers own about 2% of Credit Suisse's long-term debt, according to Wells Fargo Securities. Using Sept. 30 figures, the latest available, they together held about $3.2B. "Thus far, impairment risk seems manageable," Wells Fargo says. The Swiss bank's issues aren't related to those of Silicon Valley Bank and Signature Bank, which US regulators shut down in recent days. "Both those situations still seem manageable for insurers, assuming contagion does not accelerate further," Wells Fargo says. Insurers with exposure both to regional banks broadly and Credit Suisse include Lincoln National, Brighthouse Financial, Jackson National and Corebridge, Evercore notes. On the lower end of dual exposure: MET, MFC and UNM. Evercore assumes some level of "investment losses over the next several quarters." (leslie.scism@wsj.com)

(END) Dow Jones Newswires

March 15, 2023 17:48 ET (21:48 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment