Are insurers becoming dangerously addicted to private credit ratings?

Concerns Raised Over Insurers' Reliance on Private Credit Ratings

The issue of dependency on private credit ratings by insurers has been highlighted, raising concerns over the potential risks associated with unchecked regulatory arbitrage. There is a growing conversation about the implications of this trend within the insurance industry. The focus is on understanding how the reliance on private credit ratings could affect the sector, particularly in terms of regulation and risk management.

Original Source: https://www.ft.com/content/bfcb04a7-8e13-480a-aa59-a13dee53c698