. Specifically, we show evidence for reaching for yield among insurance companies, the largest institutional holders of corporate … bonds. Insurance companies have capital requirements tied to the credit ratings of their investments. Conditional on ratings …, insurance portfolios are systematically biased toward higher yield, higher CDS bonds. This behavior appears to be related to the …

market. We show that insurance companies, the largest institutional holders of corporate bonds, reach for yield in choosing … their investments. Consistent with lower rated bonds bearing higher capital requirement, insurance firms' prefer to hold … higher rated bonds. However, conditional on credit ratings, insurance portfolios are systematically biased toward higher …

Counter cyclical long-term investment strategies of insurance companies and pension funds (ICPFs) can support the …

/C) insurance companies. This study investigates short-term equity trading behavior of P/C insurers in the United States in 2007 and …