L&G and NatWest Group Pension Fund enter in £500m JV
15-year JV will build later living communities
News
Investors call for corporates' net-zero disclosures
And AGM vote on net-zero commitments
Hedge fund's $1.5bn loss puts insurer assets under threat
Alphadyne hit by interest rate plunge over the summer
German insurers reveal investment exposures to regions devastated by floods
SFCRs from Nürnberger, HUK-Coburg and Helvetia Deutschland among those exposed
Generali grows third-party AuM by 11.6% in H1 2020
Nearly half of which is result of 2020 Cattolica deal
EDF and LGIM partner on science based corporate engagement
Partnership hopes to convert aspirational pledges into concrete plans
Axa takes 25% share in medical diagnostic service provider
Part of a consortium including OMERS Infrastructure and Goldman Sachs
Large investment losses drive fall in capital in Australian stress tests
APRA discloses key findings of its 2020 stress tests
Clean energy transition represents $16trn investment opportunity
Pandemic "black swan" has focused minds on ESG, Manulife IM says
Prudential Financial links borrowing facility to ESG success
Borrowing costs of $4bn credit facility dependent on insurer's ability to reduce GHG emissions and improve diversity
Axa reveals share of general account not held by affiliate
Some €118bn is not in hands of AXA IM
BaFin picks Cambridge-educated Briton as new president
Mark Branson replaces Felix Hufeld
US government seeks investment documents from Allianz
AllianzGI's Structured Alpha funds at centre of investigation and litigation
Attention all shipping - CIOs park boats in their general accounts
From fishing rights to 'a Danish ship', maritime investments navigate way into CIOs' hearts
Italian insurer reports €5.5m loss on investment
Due to impairment loss on a bond not being paid on maturing, Net Insurance said
Caisse des Dépôts and CNP Assurances increase stake in GRTgaz
Following the transaction, the Caisse des Dépôts group will own 39% of GRTgaz
Manulife acquires Joliet Logistics Centre
The asset is leased on a long-term basis to one of the world's largest automobile manufacturers
Allianz gets approval for Chinese foreign-owned insurance AM company
It received approval from CBIRC in December 2020 for another capital injection of RMB 1.2bn
Swiss Re admits investments alone cannot sustain adequate business margins
CEO says "more optimistic than ever" on net zero moves, "but I just hope it's not too late"
Market faces threat of collapse similar to last March
Red flags abound as asset prices push towards extreme valuations, says Guggenheim
Chart of the week: X-ray vision - the power of superheroes... and CIOs
Without look-through, CIOs often don't invest in funds. One French insurer's SFCR shows why
Danish insurer reveals outsourcing taste for qualifying infrastructure
Also reveals stress-tests for climate, Great Depression, credit crunch, dot.com bubble-pop...and EU dissolving in two ways
News round-up - 30 July 2021
New York Life; Scottish Widows; AllianzGI; Aberdeen Standard Investments; L&G; Achmea; Credit Agricole Assurances; M&G
Japan unit helps Aflac grow earnings by 17.3% in Q2 2021
Most of group's investment income came from Aflac Japan
German insurer seeks funds for outsourcing as it rotates from direct holdings
Underwriter took write-down on Wirecard stake in 2020
Aegon UK moves 40% of default funds assets to ESG strategies
£10bn now managed under responsible investing principles
Meagre investment gains in H1 2021 for Lancashire Group
Investment returns negatively impacted by yield curve steepening in Q1
Central banks could reverse low rate policies in face of rising inflation
AEW research points to reasons for potential higher inflation
French industry labels EIOPA's SII proposal "disputable"
In terms of "efficiency, need and impact"
AllianzGI acquires 99% stake in Indonesian asset manager
Remaining 1% acquired by Allianz Life Indonesia
Analysis
Invesco's future vision
Head of ESG client strategy EMEA Maria Lombardo has one eye on helping CIOs achieve their future net zero goals, but another firmly on helping them navigate their general accounts through the here-and-now, David Walker discovers
Interview with Rothesay's David Land
The UK insurer's head of investment strategy, speaks to David Walker about the firm's commitment to the UN-convened Net-Zero Asset Owner Alliance, and from climate risk modelling to green infrastructure, what is required to achieve the carbon goal
Allianz - turning the CO2 dial down
Sona Stadtelmeyer-Petru discusses Allianz's proprietary assets' move towards net zero with David Walker
The path to net-zero
Knowing how best to get a portfolio to zero greenhouse gas emissions will be a skill CIOs need to hone, as David Walker hears from AXA Investment Managers.
The great and the good - Allianz issues invitation to join the net-zero crowd
The Net Zero Asset Owners Alliance seems enormous, because it is, with $6.6trn of assets behind its collective voice. But Allianz's Sona Stadtelmeyer-Petru emphasises to David Walker, the Alliance really thrives on having voices of all insurers, not just the largest
The RBC changes: a slow-moving Titanic
It is a slow change, even by the notoriously slow standards of the insurance industry. However, the soon-to-be instigated changes to the NAIC's risk-based capital charges on fixed income assets could have significant ramifications for the US insurance investment portfolio. And many don't like it. Sarfraz Thind reports
Credit and the rise of duration risk
Heightened uncertainty on the back of the pandemic and policy response to it calls for a greater focus on duration risk management, according to Moody's Analytics's Tomer Yahalom, Amnon Levy and Brett Manning.
Inflation - the rising concern among CIOs
Once the elephant in the room for most insurance investors, inflation or the threat of it, is creeping up the ladder of chief investment officers' risks. Stephanie Harris reports
Data centres - the new investment frontier
The pandemic has highlighted the importance of digital infrastructure, with data centres standing as the foundation of the sector. But with technology comes a price: huge power consumption. How can insurers balance their need for yield with environmental considerations? Stephanie Harris reports
"It's becoming more and more difficult to be buy-and-hold investors," CNP Assurances CIO says
Accelerating technological and societal changes are causing structural changes to the way insurers invest, according to CNP Assurances CIO Olivier Guigné. This forces them to be more adventurous and explore new territories. Vincent Huck reports