LATEST NEWS
- US life insurers’ growth in offshore reinsurance vehicles to persist
- Another 'bumper' year expected for pension risk transfer market
- Aspen Insurance picks New York for listing
- PRA proposes new liquidity reporting requirements for large UK life insurers
- Nippon Life to commit $3.25bn to TCW private credit strategies
US insurers’ exposure to ABS and other structured securities increases by 9%
Written by Adam Cadle
08/01/2025
US insurers’ exposure to asset-backed securities (ABS) and other structured securities increased by 9% in 2023 to a total of $626bn in book/adjusted carrying value (BACV), according to latest figures published by the NAIC.
Life companies accounted for the majority of ABS and other structured securities exposure at 79% of the total, consistent with year-end 2022.
Almost 80% of US insurers’ ABS and other structured securities investments were high credit quality, evidenced by NAIC 1 designations, a small improvement from 77% the year prior.
Consumer ABS comprised 9% of total ABS and other structured securities, or about $53bn in BACV at year-end 2023, a small increase from $50bn at year-end 2022.
Within US insurers’ total consumer ABS exposure, auto ABS accounted for the majority at about $33bn, or 62% of total ABS and other structured securities.
Related Articles
There are no related documents to show at this time.
Navigating insurance investment
Adam Cadle talks to Aon partner, Geoff Bauer, about how the firm helps insurers to achieve their objectives
Understanding Capital Solutions
Adam Cadle talks to HSBC Asset Management’s head of capital solutions, Borja Azpilicueta, and head of insurance business, Deepak Seeburrun, about the firm’s capital solutions proposition.
Most read stories...
US P&C insurers achieve record investment income
L&G sells US protection business to Meiji Yasuda for $2.3bn
European insurers’ outsourcing of investment management continues to grow
Mercer to acquire SECOR Asset Management
Low & Bonar Group pension scheme completes £50m buy-in with Just
Domestic political environment replaces inflation as top investment portfolio concern for US insurers
Unnamed pension scheme completes £18m buy-in with Utmost
Twelve Capital and Securis merge to create ILS manager
Taiwan eyeing insurance funds to help with green transition
Finning Pension Scheme completes £250m BPA buy-in with Standard Life
A Different Approach to Direct Lending
Adam Cadle talks to HSBC Asset Management’s head of direct lending UK & Europe, Tom Green, and head of insurance business, Deepak Seeburrun, about the firm’s direct lending proposition.
World Markets (15 minute+ time delay)
