Athene dominates FX forwards market for US life insurers
Counterparty Radar: Morgan Stanley claims top dealer spot in $56 billion sector
Athene US Life has emerged as the most dominant player in the foreign exchange forwards market for US life insurers, growing the size of its positions to a quarter of the total space as of Q4 last year.
The life insurance arm of private equity behemoth Apollo Global Management held $14.4 billion in notional of the instrument at the end of 2022, which translates to 26% of the $56.2 billion market, according to data from industry filings aggregated and analysed by Risk.net’s Counterparty Radar
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