Risk Quantum/Prudential Financial
MMFs’ reverse repos with Fed surged 35% last year
Fidelity-run funds drove 29% of the $601 billion in new trades
Top insurers mark down CLO holdings following Covid-19 tumult
MetLife discloses $773 million unrealised loss
US life insurers exposed to $130bn of CMBS
Majority of exposures are to senior tranches
Prudential Financial adds $1bn to liquidity pool
Insurer increases highly liquid assets by 25% in 2018
Prudential Financial growth at odds with Sifi repeal
US insurer has increased derivatives and repo books; grown total assets
Prudential grows long-term care reserves, draining profits
Annual actuarial updates take net $160 million away from adjusted operating income
Prudential Financial braces for higher lapse risk
Net redemptions hit $1.2 billion at US insurance giant