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Fixed income strategies of insurance companies and pension funds


  • Bank for International Settlements


Insurance companies and pension funds are at the intersection of major developments. Having weathered the financial crisis, they now face important changes in international regulation and accounting standards. At the same time, their business models and balance sheets remain exposed to the low-interest rate environment. Against this backdrop, the present report examines how life insurance companies and pension funds might alter their investment strategies and asset allocations, and assesses the likely consequences for market functioning and funding of various economic sectors arising from such changes.

Suggested Citation

  • Bank for International Settlements, 2011. "Fixed income strategies of insurance companies and pension funds," CGFS Papers, Bank for International Settlements, number 44.
  • Handle: RePEc:bis:biscgf:44

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    References listed on IDEAS

    1. repec:sae:ecolab:v:16:y:2006:i:2:p:1-2 is not listed on IDEAS
    2. Ilhyock Shim & Goetz von Peter, 2007. "Distress selling and asset market feedback," BIS Working Papers 229, Bank for International Settlements.
    3. Schludi, Martin, 2005. "The Reform of Bismarckian Pension Systems," University of Chicago Press Economics Books, University of Chicago Press, edition 0, number 9789053567401.
    4. Monica Billio & Mila Getmansky & Andrew W. Lo & Loriana Pelizzon, 2010. "Econometric Measures of Systemic Risk in the Finance and Insurance Sectors," NBER Chapters,in: Market Institutions and Financial Market Risk National Bureau of Economic Research, Inc.
    5. Barbara Casu & Claudia Girardone, 2009. "Integration and Efficiency in EU Banking Markets," Chapters in SUERF Studies, SUERF - The European Money and Finance Forum.
    6. Bank for International Settlements, 2007. "Institutional investors, global savings and asset allocation," CGFS Papers, Bank for International Settlements, number 27.
    7. Nikolay Nenovsky & S. Statev, 2006. "Introduction," Post-Print halshs-00260898, HAL.
    8. M. Ruth & K. Donaghy & P. Kirshen, 2006. "Introduction," Chapters,in: Regional Climate Change and Variability, chapter 1 Edward Elgar Publishing.
    9. Guillaume Plantin & Jean-Charles Rochet, 2007. "Introduction to When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation," Introductory Chapters,in: When Insurers Go Bust: An Economic Analysis of the Role and Design of Prudential Regulation Princeton University Press.
    10. John Geanakoplos, 2009. "The Leverage Cycle," Cowles Foundation Discussion Papers 1715, Cowles Foundation for Research in Economics, Yale University.
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    Cited by:

    1. Kelly, Anne-Marie & O'Leary, Brian, 2014. "Reinsurance in Ireland: Development and Issues," Quarterly Bulletin Articles, Central Bank of Ireland, pages 82-95, July.

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