Gradually increasing interest rates and stability in the global economy had led Moody's Investors Service to issue a stable 2014 outlook for the global life and P&C insurance industries.

The gradual increase in interest rates is leading to a more benign environment for life insurers, the company said. While investment yields likely will continue to decline in 2014, the rate of decline is slowing. As a result, Moody’s said the "hunt for yield" likely would be less intense, as would investment in riskier asset classes. “Nonetheless, in Europe the trend towards investments in illiquid assets is expected to continue,” Moody’s said.

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