At the beginning of December, six UK insurers - Aviva, Friends Life, Legal & General, Prudential, Scottish Widows and Standard Life - pledged to invest £25 billion in UK infrastructure over the next five years.
They are not alone. All across Europe, life insurers are eager to increase their exposure to this asset class, attracted by the returns on offer and its potential for matching long-term liabilities. But the class is extremely broad - encompassing everything from airport refinancing to
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