Thursday, November 26, 2020

Brave Real World

The Covid-19 pandemic has changed the world, making it harder and more complex for investors to navigate the likely conditions for the major asset...

CAMRADATA enters strategic partnership with Insurance AUM Journal and expands into the USA

9 November 2020 – CAMRADATA, a leading provider of data and analysis for institutional investors is expanding into the USA market, through a new strategic...

Tax Exempt Municipal Bonds: Attractive Again?

The Tax Cut and Jobs Act of 2017 had numerous impacts on the municipal bond market. From the standpoint of the institutional investor, tax-exempt...

4 Quadrant Report: Monthly Insight into U.S. Commercial Real Estate Opportunities

Partnering with insurance investors is a key strength of Principal Global Investors. From our own insurance company heritage, Principal Global Investors has grown into...

P/C Book Yields, Surplus May Slip Further Due to Pandemic Fallout

2020 Events May Beg Questions of Insurers’ Risk Tolerance; Scenario Planning May Help Identify Potential Outcomes  Alan Dobbins, Director, Insurance Research and Daniel Finn, FCAS,...

The Global Credit Outlook: Finding Opportunities in Public and Private Credit Amid an Uncertain Recovery

While valuations have risen from their March lows, dislocation has created compelling opportunities in both the public and private credit markets. The COVID-19 pandemic has...

Governance in the Time of COVID-19

The effects of COVID-19 have upended societies, economies, and financial markets, and reminded us in a dramatic way that the only certainty in life...

State of the States: Municipal Bond Credit Perspectives – 2020

Conning believes state credit quality had been the strongest it had been in adecade. However, we have revised our outlook to negative, as the...

Investors Expect and Demand Meaningful Environmental Goals and Progress

There is no doubt that environmental, social and governance (ESG) principles play an increasingly influential role in investment management today. For real estate investors...

Editor's Pick

What Makes An Asset Manager An Insurance Asset Manager?

Asset managers began specializing in managing insurance company balance sheet assets about 40 years ago. Initially, these managers focused on managing the core asset...
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Latest Podcasts and Webcasts

An Entirely New Risk Paradigm – Northern Trust Asset Management Presents “The Risk Report”

https://mcdn.podbean.com/mf/web/zzjjuk/IAJ_Mike_Hunstad_111720.mp3 Stewart: Welcome to another edition of the Insurance AUM Journal podcast. My name is Stewart Foley, and I'm standing with you at the corner...

Managing in a Pandemic: Lessons Learned & Next Steps with Conning’s Cynthia Beaulieu

https://mcdn.podbean.com/mf/web/viq67z/IAJ_Cindy_Beaulieu_111220.mp3 Stewart: Welcome to another edition of the Insurance AUM Journal podcast. My name is Stewart Foley and I'm your host standing with you at...

CIO Viewpoint: Nico Santini of ProSight Specialty Insurance

https://mcdn.podbean.com/mf/web/3fggf8/IAJ_Nico_Santini_1102209ldna.mp3 Stewart: Welcome to another edition of the Insurance AUM Journal podcast. My name is Stewart Foley and I'll be your host standing with you...

Does Equity Have a Place in Your Portfolio? With T. Rowe Price’s John Linehan

https://mcdn.podbean.com/mf/web/sdx2n8/IAJ_John_Lenahan_100820bdh5t.mp3 Stewart: Welcome to another edition of the Insurance AUM Journal Podcast. My name is Stewart Foley, and I'm your host standing with you at...

Grace Vandecruze: From Homeless to Millionaire

https://mcdn.podbean.com/mf/web/fhbytu/IAJ_Grace_Vandercruz_Rev01_0902208v6zg.mp3 Stewart: Welcome to another edition of Insurance AUM Journal Podcast. My name is Stewart Foley, and I'm standing with you at the corner of...

Do the Fundamental Things Apply? with Wellington’s Tim Antonelli

https://mcdn.podbean.com/mf/web/953zcn/Wellington_Tim_Antonelli_2020_8_17a4dhz.mp3 Stewart: Welcome to another edition of Insurance AUM Journal Podcast. My name is Stewart Foley and I'm your host, standing with you at the...

Telematics Insurance with Robert Smithson, CEO of Just Insure

Robert Smithson, Just Insure https://insuranceaumjournal.podbean.com/mf/play/82w3ga/Insurance_AUM_Journal_Robert_Smithson_Mix.mp3 Stewart: Welcome to another edition of Insurance AUM Journal podcast. My name is Stewart Foley, I'm your host standing with you...

Street View with Loop Capital’s Anthony Chukumba

Anthony Chukumba, Loop Capital https://mcdn.podbean.com/mf/player-preload/07x9qi/Insurance_AUM_Journal_Anthony_Chukumba_Mix.mp3 Anthony Chukumba covers Specialty Hardlines Retailers for Loop Capital Markets. Mr. Chukumba has covered Specialty Hardlines Retailers for over twelve years...

Public Fixed Income

Tax Exempt Municipal Bonds: Attractive Again?

The Tax Cut and Jobs Act of 2017 had numerous impacts on the municipal bond market. From the standpoint of the institutional investor, tax-exempt...

4 Quadrant Report: Monthly Insight into U.S. Commercial Real Estate Opportunities

Partnering with insurance investors is a key strength of Principal Global Investors. From our own insurance company heritage, Principal Global Investors has grown into...

P/C Book Yields, Surplus May Slip Further Due to Pandemic Fallout

2020 Events May Beg Questions of Insurers’ Risk Tolerance; Scenario Planning May Help Identify Potential Outcomes  Alan Dobbins, Director, Insurance Research and Daniel Finn, FCAS,...

The Global Credit Outlook: Finding Opportunities in Public and Private Credit Amid an Uncertain Recovery

While valuations have risen from their March lows, dislocation has created compelling opportunities in both the public and private credit markets. The COVID-19 pandemic has...

State of the States: Municipal Bond Credit Perspectives – 2020

Conning believes state credit quality had been the strongest it had been in adecade. However, we have revised our outlook to negative, as the...

Improving Credit Quality Boosts High Yield Bonds

Key Insights • The high yield bond sector represents value as a result of its improving credit quality and valuations that are still at attractive levels. •...

Making Insurance Assets Work Harder with a Tactical Credit Allocation

Key Takeaways Globally, government bond yields are at historically low levels—$10 trillion with negative yields.Covid 19 pandemic has provided a truly exogenous shock to the...

Private Fixed Income

4 Quadrant Report: Monthly Insight into U.S. Commercial Real Estate Opportunities

Partnering with insurance investors is a key strength of Principal Global Investors. From our own insurance company heritage, Principal Global Investors has grown into...

The Global Credit Outlook: Finding Opportunities in Public and Private Credit Amid an Uncertain Recovery

While valuations have risen from their March lows, dislocation has created compelling opportunities in both the public and private credit markets. The COVID-19 pandemic has...

Exploring Alternative Credit for Insurance Companies

Investment opportunities in alternative credit are expanding. At the same time, private market allocations for insurance companies are growing as a way to enhance...

Commercial Mortgage Loans: The Middle Market Advantage

With concerns over interest rates and recession fears generating greater volatility in the bond market, investors may wish to add the unique benefits of...

Exploring The Various Uses of Private Real Estate Debt in an Insurance Portfolio

The real estate debt asset class can provide debt investment options that may outperform traditional benchmarks while potentially offering attractive returns, downside protection, diversification...

Private Placements: Advantages Magnified In Late-Cycle Environment

The private placement market offers additional risk reduction and diversification that can help investors at any stage of the economic cycle. Private placements have...

Private Credit: A Broader Perspective

More and more insurers are turning to private credit as a tool to try to enhance income, reduce volatility or diversify return streams. Insurance...

Private Credit Strategies: An Introduction

Private credit offers distinct advantages and appeal in a low return environment, but investors should be aware that behind the name is a diverse...

Public Equities

Does Equity Have a Place in Your Portfolio? With T. Rowe Price’s John Linehan

https://mcdn.podbean.com/mf/web/sdx2n8/IAJ_John_Lenahan_100820bdh5t.mp3 Stewart: Welcome to another edition of the Insurance AUM Journal Podcast. My name is Stewart Foley, and I'm your host standing with you at...

4 Quadrant Report: Monthly Insight into U.S. Commercial Real Estate Opportunities

Partnering with insurance investors is a key strength of Principal Global Investors. From our own insurance company heritage, Principal Global Investors has grown into...

The Case for a Permanent Allocation to an Equity Stabilization Strategy

Institutional investors face a balancing act between two equally important needs: achieving robust long-term returns while avoiding the painful consequences of near-term drawdowns. Traditional asset...

How to Invest in Dividend Equities Now

Companies globally are slashing dividend payments as they face a combination of declining revenues and regulatory measures discouraging dividend payments. Not surprisingly, companies are...

Why Investors Should Ride the New Higher-Tech Infrastructure Wave with Liquid Real Assets

Executive SummaryThe investment fundamentals for liquid real assets have improved, as investment in the U.S’s infrastructure benefits from advances in technology. We define “liquid...

An Evolving Landscape: Highlights of the RBC GAM 2019 Responsible Investment Survey

IntroductionThe 2019 RBC Global Asset Management Responsible Investment Survey polled key decision makers, including institutional asset owners, wealth managers and pension plan consultants, around...

When Volatility Strikes, Add . . . Equity?

Bonds are the way to go to reduce risk, right?Maybe not. Investors are worried about the market forecasts they’re seeing these days and whether they...

ETF Check-In Provided by Brownstone 1Q2020 – Columnist

Key Points• There are 20 unique ETF issuers offering Fixed Income ETFs eligible to be reported as bonds approved by the NAIC.• Fixed Income...

Private Equities

4 Quadrant Report: Monthly Insight into U.S. Commercial Real Estate Opportunities

Partnering with insurance investors is a key strength of Principal Global Investors. From our own insurance company heritage, Principal Global Investors has grown into...

The 4th LP: Investing Between The Silos

By any metric, it has been a great run in buyout PE over the past 20 years. Strong performance relative to public markets over...

There Are Hidden Risks Lurking In Institutional Portfolios

NEW RESEARCH INTO THE KEY CAUSES OF UNINTENDED RISKS FOUND IN INSURANCE PORTFOLIOS. All equity portfolios have embedded risk, but much of that risk is...

Alts Transparency: Finding The Right Balance

Despite the dominance of transparency as a discussion topic over the last decade, market practices in alternative investing haven’t changed as much as you...

Alternatives

The Case for a Permanent Allocation to an Equity Stabilization Strategy

Institutional investors face a balancing act between two equally important needs: achieving robust long-term returns while avoiding the painful consequences of near-term drawdowns. Traditional asset...

The 4th LP: Investing Between The Silos

By any metric, it has been a great run in buyout PE over the past 20 years. Strong performance relative to public markets over...

Exploring Alternative Credit for Insurance Companies

Investment opportunities in alternative credit are expanding. At the same time, private market allocations for insurance companies are growing as a way to enhance...

Core, What Is It Good For? Definitely Something!

In a low yield, late-cycle environment, core alternative asset classes can provide insurance portfolios with stable income and low total return volatility. Many insurers invest...

PutWrite: A Potentially Risk-Reducing Strategic Allocation For Non-Life Insurers

In early 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016 – 01 (ASU 2016 – 01), changing how financial institutions...

An Introduction to Alternative Risk Premia

Alternatives investors have always been focused on the possibility of achieving a measure of downside protection, accessing differentiated exposures and identifying truly uncorrelated, complementary...

Alts Transparency: Finding The Right Balance

Despite the dominance of transparency as a discussion topic over the last decade, market practices in alternative investing haven’t changed as much as you...

Multi-Asset

Brave Real World

The Covid-19 pandemic has changed the world, making it harder and more complex for investors to navigate the likely conditions for the major asset...

ETFs in Insurance General Accounts – 2020

In our first report in 2015, we used historical trends to project that insurance companies would double their use of exchange-traded funds (ETFs) in...

Interview with Rip Reeves, CIO & Treasurer of AEGIS Insurance Services, Inc.

Guest Q&A with Rip Reeves IAUM: You’ve been managing money for insurance companies for quite some time. And, you’ve had the unique experience of being...

Insurance Roadmap 2020: Three Keys to Success

Over the past year, I had the privilege of meeting with more than 100 global insurance companies, with total assets of around US$12 trillion...

Interview with Tony Malloy, Executive VP & Chief Investment Officer of New York Life Insurance Company

Guest Q&A with Tony Malloy Tony Malloy is a third-generation Yankees fan and still lives in the New Jersey town he grew up in. His...

Interview with Ron Joelson, Executive VP & Chief Investment Officer of Northwestern Mutual

Guest Q&A With Ronald P. Joelson IAUM: Northwestern Mutual is the highest rated insurance company in the country. How do you maintain that rating over...

Interview with Eric Kirsch, Executive VP & Global CIO; President of Aflac Global Investments

Guest Q&A With Eric Kirsch. IAUM: How do you define risk when managing Aflac’s portfolios? KIRSCH: We approach risk in two different ways, both qualitatively and...

Interview with Netti Bhalla, Executive VP & CIO of Liberty Mutual Insurance

Guest Q&A With Neeti Bhalla Johnson We are very fortunate to have Neeti Bhalla Johnson as The Interview this quarter. As many of you know,...

Technology, Regulation & Accounting

P/C Book Yields, Surplus May Slip Further Due to Pandemic Fallout

2020 Events May Beg Questions of Insurers’ Risk Tolerance; Scenario Planning May Help Identify Potential Outcomes  Alan Dobbins, Director, Insurance Research and Daniel Finn, FCAS,...

Solvency Oversight Wheels Keep Churning

Regulator and Rating Agency expectations are not static. We explore some recent changes to their standards and methodologies for insurers. This issue of Perspectives highlights...

Insurance Roadmap 2020: Three Keys to Success

Over the past year, I had the privilege of meeting with more than 100 global insurance companies, with total assets of around US$12 trillion...

Who Needs ALM Anyway? A Discussion for Non-Life Insurers – Columnist

Introduction ALM or asset-liability management is a fixture in the world of insurance. Does it deserve that status in the context of non-life (NL)...

What Makes An Asset Manager An Insurance Asset Manager?

Asset managers began specializing in managing insurance company balance sheet assets about 40 years ago. Initially, these managers focused on managing the core asset...

PutWrite: A Potentially Risk-Reducing Strategic Allocation For Non-Life Insurers

In early 2016 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016 – 01 (ASU 2016 – 01), changing how financial institutions...

Don’t Let The Tail Wag The Dog: For Insurers, It’s Investment Discipline First, Capital Efficiency Second

This year was the year of the dog, according to the Chinese zodiac. For NEPC’s Insurance Investment Practice, 2018 was the year of rated-private-debt...

The Potential Impacts of the Trump Tax Bill on Municipal Bond Investing

The bill approved by Congress on December 20, 2017, should have significant supply and demand effects on the municipal bond market, and the changes...

ESG

Brave Real World

The Covid-19 pandemic has changed the world, making it harder and more complex for investors to navigate the likely conditions for the major asset...

ESG Integration: Easier Than You Think – Featuring Joseph Pursley from Allianz Global Investors

For the abridged presentation of 4:44 mins, please play the video immediately above.

Investors Expect and Demand Meaningful Environmental Goals and Progress

There is no doubt that environmental, social and governance (ESG) principles play an increasingly influential role in investment management today. For real estate investors...

An Evolving Landscape: Highlights of the RBC GAM 2019 Responsible Investment Survey

IntroductionThe 2019 RBC Global Asset Management Responsible Investment Survey polled key decision makers, including institutional asset owners, wealth managers and pension plan consultants, around...

The Power of ESG in Fixed Income Investment Decision Making at North American Insurers

Investment decision makers at North American insurance companies are likely to see environmental, social, and governance (ESG) factors as a way to inform risk-aware,...

Developing Appropriate Environmental, Social & Governance (ESG) Fixed Income Strategies

BlueBay Asset Management’s My-Linh Ngo discusses the range of ESG investment strategies available to fixed income investors. Our ongoing research into the natural fit of...

North American Insurance Survey Tackling The Twin Forces: Interest Rates & Technology

The North American insurance industry is facing challenges on two fronts: a sustained period of low interest rates and rapid technological change. Insurance companies are...

Why Climate Leadership Will Likely Come From The Insurance Industry

Any views expressed here are those of the author as of the date of publication, are based on available information, and are subject to...

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