Global Atlantic’s swaptions book surges
Counterparty Radar: KKR-owned firm exploits lower volatility in Q1 as swaptions market for US life insurers grows 17%
KKR-owned life insurer Global Atlantic added $13.6 billion in fresh interest rate swaptions notional value in the first quarter of the year, aided by a series of chunky trades with JP Morgan and Wells Fargo, Risk.net data shows.
The increase in swaptions activity came from an almost standing start – as of the end of 2022, Global Atlantic’s US insurance arm had just $94 million of swaptions on its books.
Overall, the swaptions market for US life insurers grew to roughly $193 billion in Q1 from
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