BofA claims top swaptions dealer spot for US life insurers
Counterparty Radar: Sector-wide exposures grew 35% in Q4 2022 on the back of large MetLife trades
Bank of America became the top provider of interest rate swaptions to US life insurers in the second half of 2022, overtaking Morgan Stanley, an analysis of insurance company filings by Risk.net finds.
The bank’s trading relationships with insurers including Jackson National, MetLife and New York Life helped drive growth in the value of business conducted with providers of life and annuity cover.
MetLife, the largest user of swaptions in the US life insurance market by notional value at the
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