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 headquarters

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 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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