Insurers adjusting to expected US rate rises

Asian insurers have been investing more in dollar debt and/or shifting up the risk curve in anticipation of higher US interest rates, market insiders tell AsianInvestor. With their assets under management swelling as the region’s middle class expands and more people buy insurance, and with local bond yields depressed, insurance firms are looking beyond their usual comfort zones, albeit cautiously. Such moves are taking place as the new US president makes baby steps with h…