New York Life Insurance Company is getting into residential mortgage loans as part of a plan to grow its $380 billion portfolio by prudently adding complementary asset classes to the general account.“Residential mortgage loans are one area where we have been selectively building exposure,” Craig Sabal, chief investment officer for the mutual life insurer, told Institutional Investor. He expects the New York-based mutual’s resi mortgage exposure to become a bigger part of the portfolio over time.
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