Rekindled affection: transitional measures spur equity rethink

Some firms increasing holdings to benefit from grandfathering

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Talking investors through his company’s results in February, Antoine Lissowski, chief financial officer at CNP Assurances in Paris, said the firm increased its holdings of equity by €2 billion ($2.1 billion) in 2014, and plans to buy another €3 billion this year.

That seems reasonable, with European equity markets reaching all-time highs, boosted by the launch of quantitative easing. And yet, for the region’s insurers, it feels somewhat counterintuitive because many in the industry assumed equit