Kaufmann, Christoph; Leyva, Jaime; Storz, Manuela - 2024
impact on both sector size and risk-taking. Insurers' balance sheets grow materially after a monetary loosening, implying an … sector. We also find evidence of portfolio re-balancing consistent with the risk-taking channel of monetary policy. After a … monetary loosening, insurers increase credit, liquidity and duration risk-taking in their asset portfolios. Our results suggest …