Fink Says Central Bankers ‘Destroying’ Insurers With Low Rates
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Low interest rate policies by central banks around the world are threatening insurance companies and pension funds, said Laurence D. Fink, chief executive officer of BlackRock Inc., the world’s largest asset manager.
“As we live in a world of persistent low rates and, in the case of Europe, negative rates today, when you put a macro-prudential framework on it, we are destroying the value of pension funds,” Fink said at a conference in Singapore on Tuesday. “We are destroying the viability of insurance companies.”