A Moody's survey of rated US life insurers puts the allocation at 1.9% of cash and invested assets in 2025, up from 1.3%.
The NAIC is reviewing how US life insurers treat rated note feeders on their statutory balance sheets. A Moody's survey of rated US life insurers puts fund finance at 1.9% of cash and invested assets in 2025, up from 1.3%.
The increase from 1.3% to 1.9% is a relative rise of about 46%. Rated note feeders are a private-credit structure within fund finance.
Reported by The Wrap desk from Insurance Capital Daily coverage item. Published . Corrections
Fund finance allocations rose to 1.9% of cash and invested assets in 2025 from 1.3%, per a Moody's survey of rated US life insurers.
The letter to Senator Warren sizes the book; the ratings and valuation reviews inside it decide what holding it costs.
Tranched fund stakes and sliced NAV loans hand the general account a new asset class — and a wager on an exit calendar it does not control.
Pre-tax investment income rose 8.6% to a record $1.79 billion while Travelers' domestic renewal increases, excluding National Accounts, slowed to 0.9% from 4.3%.
Ategrity's $17.2 million investment loss cut net income, while Chubb's record $1.79 billion of investment income blunted catastrophe costs that more than doubled.
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