US life insurers’ interest rate swaps usage surged in Q2

Counterparty Radar: John Hancock, Principal Financial expanded books by more than half


The aggregate notional of US life insurers’ interest rate swaps positions grew 12% in the second quarter to $1.3 trillion as carriers raced to hedge their books after the Federal Reserve adopted a “higher-for-longer” stance on rates.

The jump in volumes was propelled by significant increases in swaps usage by John Hancock Life Insurance and Principal Financial, according to data from industry filings aggregated by’s Counterparty Radar service.

The Manulife subsidiary expanded the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here