US insurers target European commercial real estate debt

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American insurers are increasing their investment in UK and European commercial real estate (CRE) debt, as domestic insurers struggle to meet burgeoning demand.

Large US groups, including New-York-based MetLife and Massachusetts Mutual (MassMutual), have been quick to fill the void left by European banks' withdrawal from long-term financing, hoping to take advantage of yields on CRE loans that are more attractive than those available in North America.

In March, MetLife announced it had become th

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