US Treasury urged to investigate private equity insurers

Senate banking committee chair says Athene and other PE-owned firms take more risk, may hold less capital

Sherrod Brown
Sherrod Brown, chairman of the US Senate Committee on Banking, Housing, and Urban Affairs

The chairman of the US Senate’s banking committee has called on federal and state regulators to investigate private equity-owned insurers, arguing the firms are threatening retiree incomes by taking more investment risk than traditional life insurers, while operating under a more forgiving capital regime.

Athene, owned by Apollo Global Management, was cited as an example. Around 11% of the firm’s assets were invested in collateralised loan obligations (CLOs) as of June 2021, Risk.net reported

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