Top insurers mark down CLO holdings following Covid-19 tumult
US insurer MetLife posted a $773 million paper loss on its $7.8 billion collateralised obligations portfolio as of end-March, up from $54 million just three months prior.
The portfolio, largely made up of collateralised loan obligations (CLOs), accounts for 53% of the firm’s $14.8 billion asset-backed securities holdings, but just 2% of its total available-for-sale fixed income book.
MetLife said the paper loss reflected the effects of the Covid-19 pandemic on leveraged loans. The fair value
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Risk Quantum
7 days in 60 seconds
Covid liquidity, block trades and Fed op risk
The week on Risk.net, August 1-7, 2020
Receive this by email