Insurers struggling with move to OIS discounting

Financial pages

Many insurers are continuing to discount their derivatives trades at Libor, despite a general acceptance that the overnight indexed swap (OIS) rate is the correct rate to use to value cash-collateralised derivatives.

Derivatives traders at several large insurance firms say they are aware that OIS is theoretically a more accurate discount rate than Libor, with the exact OIS rate determined by the currency of the collateral being posted. However, varied practices among dealers mean many are opting

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