Mizuho’s life insurance swaptions notional climbs 575% in a year

Counterparty Radar: Prudential, Global Atlantic add substantially to positions in Q3 as market’s notional total grows to $184bn


Mizuho’s interest rate swaptions business with US life insurers blossomed over the year to September 30, 2023, according to analysis of industry filings conducted by Risk.net

The notional value of the Japanese dealer’s swaptions transactions within the space stood at $9.9 billion at the end of last year’s third quarter, up 575% compared with Q3 2022, as a result of large trades conducted with clients, including MetLife and Brighthouse Life Insurance. US life insurers held a combined $184

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