Bob Garofalo and Laura Bazer of the Insurance team explain the drivers behind all the M&A transactions in the life insurance industry, and what they mean for credit when the buyers are private-equity firms. Plus, Donald Robertson of the Banking team and Jasper Cooper of the Insurance team answer questions about Archegos and the recent cyber attack on insurer CNA.

Banks globally are under pressure to transform their business models as climate change alters the political, regulatory and technological environment, and triggers changes in stakeholder behaviour. Such changes create credit, investment and regulatory risks that will have negative financial and reputational consequences for banks that are slow to adapt.

Federal support programs and an accelerating vaccine roll-out are bolstering our US economic outlook and supporting the country’s credit conditions. But the potential for rising inflation and, from there, higher interest rates, risks disrupting parts of the credit market.