via AM Best

"Insurers, which rise and fall with the U.S. economy, should see growth in the second half of 2021, said Ann Modica, associate director and economist"

by Terrence Dopp of Best's Review

"The rationale behind CLOs as an investment class is simple—higher yields than similarly rated corporate bonds. The reasons for the higher yields include the complexity of the investment—think of 100 corporate bank loans bundled into one package—and lost liquidity compared to a bond."

via NAIC

"The FHLB system is comprised of 11 regional banks that are privately owned as cooperatives by their members;only financial institutions may belong to an FHLB. Instead of making loans directly to individuals, the FHLB regional banks provide low-cost financing to the financial institutions that extend loans to homeowners, resulting in the availability of affordable mortgages. About 80% of U.S. lending institutions rely on FHLB regional banks for financing, and they have been an essential part of the country’s financial system for more than eight decades."

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Research Affiliates says ‘no so fast, correcting equity markets,’ US equities are fairly valued to cheap. As Duration Dies, Equity Rises raises interesting perspectives.