Awards 2013: Best bank, interest rate and inflation risk: Société Générale

- Hugo Coelho
- 27 Nov 2013

Interest rates entered a downward spiral following Mario Draghi’s ‘whatever it takes’ pledge to save the eurozone in July 2012. As a result, life insurers were left sitting on top of a precarious mountain of non-realised gains. In Belgium and France, firms also faced exposure to massive lapse risk, should rates abruptly rise.

This position pushed some insurers to rashly sell off bond holdings as

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