Chak Raghunathan, a former risk chief at Apollo, has expressed concerns regarding new life insurers. Raghunathan points out that these insurers might face difficulties during an economic downturn due to their significant dependence on untested private credit and newer savings products, which may be susceptible to withdrawals.
Original Source: https://www.ft.com/content/0e1ddf60-1987-40ef-b07e-912937ce5cbd