Global GDP Themes and Forecasts
What's next for global growth? Our Macro Strategies Team shares a regional breakdown of their growth expectations across the globe.
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For a century, Loomis, Sayles & Company has built a legacy focused on fulfilling the investment needs of institutional and retail clients worldwide. To do this, our performance-driven investors aim to deliver long-term results by leveraging deep, independent research and rigorous risk analysis. With the resources, foresight, and flexibility to look far and wide for value in broad and narrow markets, Loomis Sayles has remained a trusted partner to its clients since 1926. Loomis Sayles proudly manages $417.9 billion* in assets on behalf of clients worldwide (as of March 31, 2026).
*Includes the assets of both Loomis, Sayles & Co., LP, and Loomis Sayles Trust Company, LLC. ($53.9 billion for the Loomis Sayles Trust Company). Loomis Sayles Trust Company is a wholly owned subsidiary of Loomis, Sayles & Company, L.P.
Our Insurance Team possesses the knowledge and experience necessary to address the distinct requirements of insurance clients. By fostering collaborative partnerships, we work with global insurance organizations to provide customized solutions spanning portfolio management, advisory services, relationship management, reporting, and proprietary risk and reporting tools. Our offerings include both core and specialty insurance mandates, supported by our proprietary risk analytics and technology platform.

Colin Dowdall, CFA
Global Head of Insurance Solutions
CDowdall@loomissayles.com
(617) 449-8782

Lauren McDermott
Director, Insurance Solutions
LMcDermott@loomissayles.com
(617) 816-6301

Chris Gudmastad of Loomis Sayles joins the InsuranceAUM.com Podcast to discuss the growing convergence of public and private credit and what it means for insurers.
Learn MoreWhat's next for global growth? Our Macro Strategies Team shares a regional breakdown of their growth expectations across the globe.
Read MoreDiscover why EM corporate bonds may represent underappreciated sources of resilient yield and diversification—powered by strong fundamentals and smart risk management.
Read MoreDiscover how proposed European securitisation reforms could reopen the ABS market to institutional investors, especially insurers. The article highlights the potential for stronger market growth, improved liquidity, lower regulatory barriers and a generational shift in European ABS allocations.
Read MoreEuropean securitised asset-backed loans may help stabilize portfolios, reduce volatility and mitigate inflation risk. The article highlights the historical resilience of European ABS, its diversification benefits and its potential role in navigating uncertain market environments.
Read MoreExplore why we believe structured finance can offer investors diversification and attractive risk-adjusted yields relative to more common bond portfolio allocations
Read MoreSaurabh Lele illustrates the scale of oil disruption and why he thinks oil prices will remain above pre-conflict levels for some time.
Read MoreWe believe the expansion phase of the credit cycle will continue through 2026, but markets will likely experience a number of challenges along the way.
Read MoreWhile late-cycle dynamics remain visible, the data show encouraging signs of progress. Companies appear to be managing costs more effectively and benefiting from a broadening of earnings growth across sectors. Together, these trends suggest that the current late-cycle environment is likely to persist into 2026.
Read MoreInvestor uncertainty weighed on global financial markets over the first half of this year. Trade-related risks remain and could restrain global growth. Despite some concrete developments—trade agreements with the UK and other countries and inroads in China trade negotiations—much more needs to be defined before investors are reassured there is resilient economic growth ahead, in our view. In the meantime, we believe the Federal Reserve (Fed) is likely to resume trimming its policy rate.
Read MoreAt roughly $29 trillion, the US Treasury market is the largest, most liquid debt market in the world. Those qualities help make it a tame corner of the bond market most of the time. However, at times recently, it’s been anything but. Policy announcements, unwinding of leveraged positions and uncertainty have spurred bouts of volatility in 2025. Treasury auctions have also been under a microscope, with investors scrutinizing yields and demand—especially from foreign investors. Auctions are likely to remain under scrutiny in the coming years, particularly given the expected increase in Treasury issuance stemming from the One Big Beautiful Bill Act.
Read MoreAs the saying goes, “the only constant is change,” and ongoing tariff policy wildcards are serving to validate this adage. Undefined trade implications continue to hang over the global economy. Even with some deals and tariff pauses, the world faces a major step up in tariff rates. It may take time to work through the system, but trade disruption is already weighing on the outlook for corporate profitability. We believe the trend of consensus expectations for profit growth and initial jobless claims are key indicators to watch.
Read MoreA global economic expansion appears to continue, but there is weakness beneath the worldwide headline growth figures. For a few euro zone economies, investors project growth rates of just 0.50% for 2025, which doesn’t leave much room before any potential contraction. We still believe inflation will fall from current levels, though the path could be volatile month to month. Globally, the outlook for political stability is the most uncertain it has been in years—across developed and emerging markets.
Read MoreAt Loomis Sayles, our Technology team partners closely with the Insurance Solutions team to tackle our clients’ investing challenges. Insurers have complex objectives that often require an investment solution built on custom technology applications.
Read MoreAt this point in the third quarter of 2024, the global economy continues to expand; however, the rate of growth has slowed modestly. Our analysts still believe inflation is likely to fall further, even though the pace of disinflation eased significantly over recent months. Turning to global politics, we believe uncertainty related to elections could be a source of volatility across developed and emerging markets.
Read MoreThe Greek poet Archilochus wrote, "The fox knows many things, but the hedgehog knows one big thing." Global bond markets are typically more hedgehog than fox: they focus on “the one big thing.” Since 2022, that big thing has been the COVID-19 pandemic-driven inflation surge and the efforts of the G-20 central banks to bring it down. Interest rate hikes have done their job; inflation is falling nearly everywhere, and (ex-Japan) the global rate cycle has turned towards ease. Unfortunately, a host of fiscal challenges has left G-20 governments in a worse fiscal place than before COVID, and many of these governments have, or can expect, new leadership. In many countries, fiscal policy and its multiple knock-on effects may replace monetary policy as the new challenge to fixed income valuation, in our view. We believe developed market (DM) bond investors may have to consider more than one big thing at a time.
Read MoreIn 2023, the cloud of headline risks swirling around emerging market (EM) corporates (COVID, Russia/Ukraine and China’s property crisis) began lifting as rating upgrades outpaced downgrades. Year to date 2024, the positive trend has persisted, bolstered by an uptick in sovereign-related upgrades.
Read MoreAsset-backed securities can offer a menu of opportunities. Learn why we think insurance investors should pay attention.
Read MoreWe believe broadening a core allocation to include EM corporates (augmented by sovereigns when deemed appropriate) may make sense for insurers challenged with investing capital.
Read MoreIt’s been an interesting year for fixed income markets, to say the least. The surge in interest rates and the Treasury market selloff have left a lot of insurers with material unrealized losses in their investment portfolios.
Read MoreAs insurers look to their portfolios to meet income goals while delivering on new and shifting ESG demands, the need for tailored portfolios continues to increase.
Read MoreLoomis, Sayles & Company, an affiliate of Natixis Investment Managers, is pleased to announce that Lauren McDermott has joined the firm as Vice President, Insurance Solutions, effective 31 May 2022.
Read MoreEnvironmental, social and governance (ESG) matters have transitioned from an infrequent and standalone set of considerations into numerous pervasive, highly complex issues for corporations, government entities and investors of all sizes. The implications of ESG matters are already influencing decisions on investments, consumption, regulation and legislation. We believe the ESG phenomenon has created interconnectedness across the global economy that will play a major role in the next 20 years.
Read MoreLoomis, Sayles & Company is pleased to announce that Sean Saia has joined the firm as an investment director. Among his responsibilities will be a focus on the continued growth and retention of the firm’s insurance business.
Read MoreAre insurers making a mistake when it comes to their paltry allocation to Emerging Market (EM) Corporate Debt? We think so.
Read MoreInsurers generally take a narrow approach to investing in the securitized sector, usually through allocations in their investment grade fixed income reserve portfolios. In the current environment, with income opportunities constrained, we believe insurers should consider broadening their securitized investment strategy to take advantage of potential income and relative value opportunities in the sector. Despite this yield environment, we believe insurers continue to face challenging prospects. Rates are still low on a historical basis and negative in many parts of the world/curve.
Read MoreLong-duration fixed income can play an important role in portfolios attempting to hedge against pension or long insurance liabilities, deflation, equity risk or simply taking a view that long-duration yields will decrease.
Read MoreYields trended higher in the first quarter of 2021. Investors appear to be focused on the government’s pandemic-related stimulus and vaccination programs, and are questioning inflation expectations and the implications for real yields. Despite this yield environment, we believe insurers continue to face challenging prospects. Rates are still low on a historical basis and negative in many parts of the world/curve.
Read MoreFixed income sector yields are at historically low levels and insurers are feeling pressure to achieve their income objectives. In light of this we interviewed Michael Meyer and Gregory Ward from Loomis Sayles about the structured credit universe and why an expanded opportunity set within the securitized credit market could benefit insurance companies.
Read MoreGlobally, government bond yields are at historically low levels—$10 trillion with negative yields. Covid 19 pandemic has provided a truly exogenous shock to the global economy and helped drive the global credit cycle into a downturn regime. The pandemic response contributed to credit spreads increasing dramatically, while government yields decreased, resulting in unchanged or lower credit yields across most US investment grade fixed income sectors. Insurance companies are left still grappling with the challenge of meager yield potential as they strategically allocate large percentages of assets to investment grade fixed income spread sectors.
Read MoreChris Gudmastad of Loomis Sayles joins the InsuranceAUM.com Podcast to discuss the growing convergence of public and private credit and what it means for insurers.
Read MoreJoin host Stewart Foley on the InsuranceAUM.com Podcast as we dive into the complexities of public vs. private asset-based finance, exploring liquidity, risk, and due diligence considerations for insurance investors.
Read MoreErik Troutman is the co-head of the Institutional Advisory Group at Loomis Sayles, and Dave Adams is the Chief Investment Officer at Independent Life.
Read MoreElizabeth Colleran, CFA is the Emerging Markets Portfolio Manger & Credit Strategist at Loomis Sayles.
Read MoreElisabeth Colleran is a Vice President at Loomis, Sayles & Company.
Read MoreJohn Gidman is the Chief Operating Officer at Loomis, Sayles & Company and CEO of their subsidiary NIM-OS.
Read MoreExplore the challenges of benchmarking in insurance asset management with host Stewart Foley on the InsuranceAUM.com Podcast. Discover how "benchmark snapping" offers insurers a practical, tailored approach to performance evaluation, aligning with their unique investment constraints.
Read MoreJoin host Stewart Foley on the InsuranceAUM.com Podcast as we explore the search for yield in today’s challenging fixed income environment. Where can insurers find risk-adjusted return opportunities across global credit markets?
Read More*as of 3/31/2026
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