Posted 11/23/2023, 12:01:00 AM
Eurozone Insurers and Pension Funds Warned of Growing Risks From Market Turmoil
- Europe's insurance companies and pension funds at risk of market crisis like UK's mini-budget meltdown
- Eurozone central bank warned of growing concerns about shadow banking sector
- Central bank urged insurers and retirement funds to bolster buffers to withstand bond sell-off impact
- Recent market turmoil shows how liquidity pressures on insurers and pension funds can spread stress
- British pension funds faced crisis last fall when Truss's fiscal plans spooked bond markets