News round-up - 26 February 2021
Aflac, L&G, ABI, PIMCO, Metlife IM, Phoenix Group
News
RSA investment results impacted by lower reinvestment yields
Financial market volatility will continue to hit investment income, insurer says
Varma grows 'climate' allocation to 12% in 2020
Finnish insurer on road to investment carbon neutrality
Munich Re emerges scarred but victorious in 2020
Financial results show drops in regular investment income but gains in portfolio value
Thomas Miller helps launch litigation finance fund Erso Capital
Specialist underwriter benefitting from buying brokers The Judge Group
Alternative fixed income yield takes centre stage in Axa's 2020 results
Reinvestment yield from class more than double of that from core fixed income
German life firms risk capital inadequacy, Frank Grund warns
BaFin's top insurance regulator predicts more insurers will face "intensive supervision" from COVID-19
US insurers have $89.2bn invested in coal, NGO research finds
US underwriters account for 8% of all investments in the sector
Integrating ESG is best way to manage risks in EMD, NN IP says
NN IP's own emerging market funds are yet to become impact funds
Generali seeks external partners in €3.5bn push for economic reconstruction
Italian insurer's injections will go into socially useful economic activities across Europe
Oslo Pensjonsforsikring praises low-carbon equities investing
CEO plans reducing footprint further in 2021
Scor boosting corporate bond holdings as reinvestment yield languishes
Total returns fall from 3% to 2.8% during 2020
Post-Brexit SII reform could give insurers £95bn for reinvestment, ABI says
ABI commissioned report suggests changes to MA and risk margin frameworks
MEAG reorganizes public markets team
Affiliate under pressure from parent, Insurance Asset Risk understands
Versicherungskammer Bayern buys into property manager
Bavarian insurer says co-operation will help fuel general account
Aviva Investors set to lose French assets from €3.2bn M&A
UK insurer to sell its French insurance and asset management operations
Aviva Investors appoints CIO for real assets business
Daniel McHugh to take over from Mark Versey, who was promoted to CEO in January
AllianzGI increases shareholder engagement during 2020 with focus on compensation
Asset manager attended 6.8% more meetings last year voting on ESG and human rights concerns
News round-up - 22 February 2021
M&G; ASR; Axa IM; Barings; Berkshire Hathaway; Climate Action 100; Aviva Investors
Poste Vita aims for internal model and less volatile solvency ratio
Focus on more diverse investments as solvency ratio veers between extremes
Varma recovers from Q1 2020 falls to post positive Q4 investment return
Continues work to decrease carbon footprint
Chart of the week: where to take risk, investments or underwriting?
Swiss Re sees investment return fall, and warns of worse to come
Avoided many 'fallen angels' and impairments
QBE looks to underwriting as investment yields fall further
Re-risking general account not on agenda, CFO says
Allianz's asset managers are only part of group to grow operating profits in 2020
External and total assets both sit at record high
NN Group betting even more on mortgages with additional €3bn invested
Annual results showed increase in illiquids allocation
Asset mix plays crucial role in predicting life insurers' failures, research finds
Two economists from the French regulators highlight role of investments in insurers' insolvency
CIO hedging strategies - a crystal ball on what's to come in equity markets
CNP Assurances's CAC 40 hedge has a strike 45% below current value
AIG life and retirement unit praises hedge funds and PE in Q4
The 3% allocation to alternatives generated almost as much as the dropped income in FI
CNP seeking more equities as it transforms life business towards unit-linked
Market timing in both bonds and shares helped French group's portfolio
Analysis
Winners of the 2021 Insurance Asset Risk Awards
Insurance Asset Risk is pleased to announce the winners of its 2021 Awards
Knights of Columbus CIO: Divestment is not the answer
Few issues seem to raise more ire in the green movement than fossil fuel investment. Anthony Minopoli, CIO at Knights of Columbus, explains why divesting from fossil fuels is not the answer to the climate change issue right now. Part one of a two-part interview by Sarfraz Thind.
CIO interview: "They're not giants, they're only windmills"
Lars Haram, chief investment officer at Oslo Pensjonsforsikring, discusses climate change, how the insurer sold its direct holdings in oil and gas and why focusing solely on renewables is not the right approach. Interview by Vincent Huck
Voya: blitzing it
Voya IM winning a mandate with Assurant last year in the middle of the pandemic may have left many 'green with envy'.
CIO interview: Who cares about capital charges?
Lars Haram, chief investment officer at Oslo Pensjonsforsikring, discusses the insurer's unique position as one of the most solvent in Europe. He discusses how it can afford to take more risk, and how it "got lucky" in pandemic times. Interview by Vincent Huck
IAR outlook survey: sustainability for the next ten years
Insurance Asset Risk's outlook survey discovered that sustainability is the overarching theme that will influence insurance investor behavior—not just this year but for the next decade and probably beyond. Yet, some are more prepared than others. Sarfraz Thind reports
Hong Kong's modern-day CIO is investment 'match-maker'
Hong Kong's life insurers face the ongoing challenge of unearthing long-dated assets to match long-dated liabilities - a task set to get harder under the planned risk-based capital rules. David Walker discusses the options with investment professionals at insurers confronting the challenge head-on
IAR's global outlook survey 2021: a foggy crystal ball
Respondents to Insurance Asset Risk's outlook survey seem more at the mercy of the financial gods than ever before. Most agree that while the pandemic rages, 2021 will be a damn hard year to predict. Sarfraz Thind reports
Businesses and environmental activists - a growing alignment of goals
While activism used to go against businesses, there is a lot more collaboration these days, and understanding between protagonists, as David Walker finds out
Comment: Solvency II 2020 review, what's next?
Carlos Montalvo Rebuelta analyses EIOPA's advice to the European Commission on the Solvency II 2020 review, highlighting the points of contention between regulators and policy makers