US life insurers take axe to FX forwards positions in Q2
Counterparty Radar: $47.5bn in G10 positions reported, a 12.9% decline from Q1
US life insurers cut over $7 billion in notional foreign exchange forwards positions during the second quarter, largely in sterling/US dollar positions.
A total of $47.5 billion in G10 FX forwards positions were reported by US life insurers, a 12.9% decline from the previous quarter among G10 currencies. Around $5.1 billion and $1.7 billion in notional volumes were cut in GBP/USD and euro/USD
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