摘要：Life insurers, unlike other financial institutions, play a unique role in investing in long-term assets in orderto fulfill long-term insurance contracts. While this fundamental role is a common feature around the world,there are large differences in the insurance products they provide and in the investment assets they hold.These differences have led to a divergence in firm-level financial risks, such as duration mismatchbetween assets and liabilities, which could also result in variation in their systemic impact. With thismotivation, this report provides an international comparison on the balance-sheet composition of lifeinsurers in Japan, Germany, the United Kingdom, and the United States.
