Opinion: Interest rate bear case reiterates need for underwriting caution
Amidst the pain of mark-to-market investment losses, the (re)insurance industry has been hoping that higher interest rates unleashed in the past year were a sign of changing times and future earnings benefits to come.
After all, if you look back to before the 2008 financial crisis, the past decade is what looks like an aberration, in which a massive chunk of potential income for the industry evaporated due to ultra-low interest rates.
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