Insurers are concerned with achieving adequate returns without leaving their portfolios exposed in the event of a downturn, the Goldman unit said in a report following a survey of 300 senior insurance executives. (Photo: Michael Nagle/Bloomberg)
(Bloomberg) – Goldman Sachs Group Inc.'s asset-management unit, which oversees $250 billion for insurers, said an economic slowdown in the U.S. is the biggest investment risk for the industry for the first time since the financial crisis.
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"Insurers expressed a growing consensus that we are in the late stage of the U.S. credit cycle," the Goldman unit said in a report following a survey of 300 senior insurance executives. "With rates expected to rise and equity valuations high, insurers are concerned with achieving adequate returns without leaving their portfolios exposed in the event of a downturn."
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