Is the life-insurance business getting too big for its 100-year-old britches? Even some traditionalists, in a U.S. business noted for the especial depth of the moss on its back, are asking such questions.
The problem arises because the life insurance companies now have $36 billions in assets the world's second greatest pool of private capital (first: U.S.
commercial banks). About 30% of their total is concentrated in U.S. Government bonds. Furthermore, 75% of all new in vestments made this year are in "governments."
State laws and sound old insurance practice restrict insurance...
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