Why might insurance companies warn that falling yields can hurt their profitability?

low yields increase the rate at which insurers need to pay out their claims or liabilities

when their existing bonds mature, they need to roll their investment dollars into bonds that now offer less attractive rates

as yields fall, insurers stop duration matching of their asset and liability cash flows

falling yields encourages new insurers to enter markets which alters the competitive landscape

falling yields weaken their balance sheets because the value of their bonds suffers