EU insurers increase derivatives holdings

Exposures to derivatives ballooned at some European Union insurers in Q3, likely reflecting efforts by top firms to hedge duration against a backdrop of rock-bottom interest rates.

Data from the European Insurance and Occupational Pensions Authority (Eiopa) shows that on aggregate, firms reporting under the EU’s Solvency II framework had €220.4 billion ($243.2 billion) of derivatives outstanding at end-September, up +41% on Q2 and +120% on the year-ago quarter.

Derivatives accounted for 1.75%

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