While the world is recovering from 2020’s massive shock, it accentuated the challenges facing insurers. There is now greater urgency to adapt business models and portfolios while looking afresh at asset-liability management.
When the global pandemic triggered a tailspin in financial markets in March 2020, it intensified the complex set of challenges faced by insurance companies. As the world’s central banks launched a massive intervention in bond markets, they sent already low interest rates to zero or below in some countries, undermining insurers’ profits, capital positions and solvency ratios.
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