Insurance companies have focused on higher yielding paper, within benchmark ABS asset classes in their 2013 new issue investments, according to a JP Morgan report.

Approximately 65% of ABS insurance portfolios are made up of cards, auto and student loan ABS.  Within benchmark autos, for example, JP Morgan calculates that 55% of the investments consist of fleet and subprime transactions, while the rest are prime auto ABS deals.

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