IMF Warns on EU Insurers’ Business Models as JPMorgan Cuts

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European Central Bank chief Mario Draghi’s bond-buying program is hurting insurers, which rely on income from bonds to pay pensioners guaranteed returns.

Photographer: Emmanuel Dunand/AFP via Getty Images

European life insurers’ business models are becoming unsustainable after interest rates slumped across the continent, International Monetary Fund analysts said.

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