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CLOs - Risks and Prepayments
Given the low default rates in CLOs, insurance companies have been more and more interested in them. Insurance companies are partnering with large private capital managers such as Blackstone, Apollo, KKR. In some cases they're actually buying insurance companies whereas more conservative insurers like MetLife and Prudential have steered away from CLOs to some extent. There is risk there, pricing risk, volatility even though there haven't been defaults in the higher tier CLOs.