Athene dominates FX forwards market for US life insurers

Counterparty Radar: Morgan Stanley claims top dealer spot in $56 billion sector

Athene dominates insurer FX forward space

Athene US Life has emerged as the most dominant player in the foreign exchange forwards market for US life insurers, growing the size of its positions to a quarter of the total space as of Q4 last year.

The life insurance arm of private equity behemoth Apollo Global Management held $14.4 billion in notional of the instrument at the end of 2022, which translates to 26% of the $56.2 billion market, according to data from industry filings aggregated and analysed by FX Market’s Counterparty Radar

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