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Oil Prices Reach New High Following Russian Invasion of Ukraine

Posted on March 2, 2022March 2, 2022 by Mary Pat Campbell

Link: https://content.naic.org/sites/default/files/capital-markets-hotspot-new-oil-price-high-march-2022.pdf

Graphic:

Excerpt:

Table 1 identifies the year-end 2020 bond, common stock and preferred stock exposure of the U.S.
insurance industry to oil and gas companies. The industry’s $111 billion book/adjusted carrying value
(BACV) exposure represented approximately 1.5% of the industry’s total cash and invested assets as of
year-end 2020. Oil and gas companies will benefit from the rise in oil prices, and they are currently in a
much better financial position than during 2020 when Brent crude prices briefly fell below $10 per barrel and remained depressed relative to historical levels due to lower demand resulting from the
effects of the COVID-19 pandemic.

Author(s): Michele Wong, Jennifer Johnson and Jean-Baptiste Carelus

Publication Date: 2 March 2022

Publication Site: NAIC

Posted in Economic, InvestmentsTagged General Account investments, insurer investments, Jean-Baptiste Carelus, Jennifer Johnson, Michele Wong, NAIC, NAIC Capital Markets Bureau Hot Spot, oil, Russia

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