Posted by (American Life Insurance Guide 03/21/2023 News)As the U.S. banking earthquake spread to Europe, the Swiss government recently announced that after emergency consultations, Switzerland’s largest bank UBS (Abbreviated as UBS, UBS) agreed to buy the troubled No. XNUMX lender Credit Suisse (Credit Suisse for short, Credit Suisse).
In this time it starts withSilicon Valley Bank goes bankruptIn the crisis of the banking system in 08, the governments of various countries changed their attitudes in XNUMX, and successively acted as the vanguard of firefighting.
And as Credit Suisse Bank "sells" at a price that is XNUMX% off the market value, which type of individual and family policyholders in the United States will have an impact on their wallets?
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Insurance institution investment portfolio or cleared
According to a Reuters report, Credit Suisse Bank issued approximately US$172.4 billion in AT1 bonds. According to the contract, the par price will be cleared, and the investment of large institutional investors will face zero.
According to data from the American Life Insurance Guide Community Asia-Pacific Cooperation Agency, some perpetual bonds issued by Credit Suisse Bank will have an interest rate of about 2022% at the beginning of 9, which is also a "perpetual bond"Premium loan"Ultra-high-net-worth families and individuals for sale.
Morningstar data shows that Pacific Asset Management Group (abbreviation: PIMCO) holds about 60 billion Credit Suisse AT1 bonds through its asset management fund, and is currently known to hold the largest position.
Investors in Credit Suisse's bonds are considering legal action, according to a Reuters report.Pacific Asset Management Group (abbreviation: PIMCO) declined to comment on the matter.
Pacific Asset Management Group (English abbreviation: PIMCO) is located incalifornia pacific life insurance companyFounded and later acquired by Allianz Group of Germany.As the situation develops, more direct or indirect positions of US insurance groups may be disclosed.
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The future of index strategies for personal wallets is unknown
according toAmerican Life Insurance GuidePublished"Chinese data report on the US insurance market in the fourth quarter of 2022"It shows that nearly 8% of the policyholders are because of"U.S. Dollar Asset Allocation (Wealth Management Appreciation)"For this reason, take out index insurance.
The policy account is a means for many families to save and manage money for many years andretirement savingsMoney bag.
At present, those with a relatively high market share in the Chinese index insurance marketNational Life Insurance Company, issued under theIndex Insurance Products, both provide the Credit Suisse Balanced Trend 5% Index (CSTREND5) index strategy managed by Credit Suisse Group.
issued in the pastIndex insuranceIn the product, all deposited premiums are demonstrated by the Credit Suisse Balanced Trend 5% Index (CSTREND5) index strategy launched by Credit Suisse by default.
Since the end of April 2022, National Life Insurance Group has adjusted itsIndex Insurance Productsthe defaultDemo Index Strategies, from the Credit Suisse Balanced Trend 5% index strategy of Credit Suisse to the US Pacesetter index strategy provided by Societe Generale.
After the acquisition of Credit Suisse by UBS, whether the original effective index strategy will face business adjustments, and whether it will further affect the vital interests of policyholders in the Chinese community, American Life Insurance Guide will further follow up the report . (full text)
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