Prudential, Manulife and M&G pledge to become net zero by 2050
Each reveal different solutions for the same outcome
News
Sheffield Mutual reveals outsourcing management fees
Investec, Schroders, Fidelity investments, amongst beneficiaries
BTP spread sensitivity almost eliminated at Unipol life unit
Generali non-life subsidiary almost halves sensitivity of capital ratio to 100bps widening
Insurance Risk Data launches insightful dashboard dissecting Europe's insurance groups
New dashboard offers more than a dozen charts and tables analysing subsidiary data
The paradoxical shift between old and new infrastructure
Investing in real assets conference on 27 May
ESG strategies do not generate positive alpha, research suggests
Scientific Beta paper says return is "mechanically constructed" from balance sheet information
MetLife scores big, anomalous private equity returns
Insurer gains 13.3% on PE as LBO and venture capital investments soar
Die Bayerische announces intention to help build Munich's homes
Early move to alternatives, real credit, property help german insurer's life units make 5.2% in 2020
Talanx reveals extent and make-up of non-euro fixed income holdings
German groups cuts spread sensitivity through high-grade holdings
Biden's tax hike to offer silver lining for muni bonds
P&C insurers will profit from proposal according to Conning
Europe's general account extends growth streak to Q4 2020
Infrastructure and property funds only expanded in 2020, EIOPA figures show
Michele Gaffo to leave DWS
Former Poste Vita CIO joins private credit specialist HPS Investment Partners
News round-up - 05 May 2021
PGIM; Axa IM; MEAG; M&G; Manulife IM
Investor pressure the catalyst for reinsurers' ESG focus
Companies are being faced down by largest investors in world, says AM Best
Talanx sets aside up to €500m for infrastructure this year
Exclusion criteria put nuclear power, casinos, and zoos off limits for German insurer
French insurers win ACPR praise for climate action
Regulator finds limited investment impact in research on climate change shocks
Axa posts loss on cash fund redemption in Germany as negative yields bite
Zurich unit seeks infrastructure, others want private investments, mortgages/loans
Groupama AM's head of investments moves to Ostrum AM
Gaëlle Malléjac appointed CIO for insurance and ALM solutions
Chart of the week - Why the MA matters...
...and not just to insurers
Sun Life "dabbling into" capital call financing
But last year's opportunity not expected to last
News round-up - 3 May 2021
Skandia; M&G; Generali
RenRe suffers hit on pet insurer investment
Total Q1 investment loss of $266m on equity vol and rates
PRA warns life firms over illiquid assets as MA hits £335bn
Life firms wanting new asset classes must expect "challenge" from UK insurance regulator
News round-up - 30 April 2021
PGIM; Mapfre; Swiss Life; Helvetia; Barings
Responsible investing round-up - 30 April 2021
LGIM; PIC; Ping An
LV gained £28.2m thanks to asset transfer to Pimco
Assets went to general unit's new owner, Allianz
Equities and hedge funds inspire Varma's best quarterly result
Investments made 6%, led by private equity
Robeco's recipe for decarbonizing portfolios
86% of investors surveyed put climate at the center of their investment policy
Insurers more focused on investments than underwriting for climate risk
Research by CDP showed 52% of insurers have no plans to take climate action for underwriting portfolios
Apollo enters credit secondaries market with $1bn to invest
Platform backed by insurance investors as private asset demand continues to grow
Analysis
Liquidity in the age of COVID
'What's our liquidity' was one of the biggest questions for insurers in Q1 2020. One year on, two insurers reflect on the steps their firms took to answer it, ensure liquidity was available, and how they approach it today as a result. Vincent Huck reports
Conning's Büsst on all that it takes, to be a 'good' Lloyd's AM
Conning is Lloyd's market's most popular asset manager by engagements. Russell Büsst, Conning's chief executive and investment officer for Europe, tells David Walker about the changing face of syndicate asset management.
The Famous Five - How CIOs trumped underwriters, again, at Lloyd's
If you want to know when the underwriters at Lloyd's last beat its investors, cast your mind (all the way) back to 2015. The bad luck of Lloyd's underwriters is clear. The good run of its investors is largely to plan, David Walker finds.
The Gospel on Insurance CIO Investing, as told to GSAM
Goldman Sachs Asset Management's annual survey of insurer investors is an eagerly awaited barometer of the economic expectations, investment and outsourcing plans, and risk-assessments of CIOs worldwide. David Walker reports on the findings
CIO interview: Balancing internal and external clients at an insurer's affiliate
SCOR decided to fully centralise the investment process at group level in 2008, and open asset management services to third-party clients in 2011. Francois De Varenne, in charge of today's €20bn investment portfolio, explains the rational around the decision, how it went about building the current structure. Interview by Vincent Huck
Third Point Re: a new look for an old engine
Third Point Re, once one of Bermuda's leading hedge fund reinsurers, has merged with Sirius and is taking a new direction. But the ties with the hedge fund remain as Sarfraz Thind finds out
Insurers' GA - cost or opportunity for affiliated asset managers?
Unlike banks, insurers enjoy a close relationship with their affiliated asset managers, to the point that an insurer's CIO can also be the manager's CEO. Although not prohibited by law, this arrangement raises ethical concerns - ones that regulators are well aware of. Vincent Huck reports
Lloyd's syndicates see the light on ESG investing
Annual statements promised greater openness on sustainable practices, but some are skeptical of the London market's approach to sustainability. David Walker reports.
Allianz Real Estate COVID-proofing its property portfolio
Dr. Megan Walters, global head of research at Allianz Real Estate, explains how her team studied the data of 47 cities to present the heads of acquisition with office assets that look to be secure for the future. Interview by Stephanie Harris
CEO interview: Hales the thinker
Steve Hales CEO at Resolution Re, talks about the challenge of the pandemic and lower rates on the asset side and the continued attraction of Bermuda for reinsurance. Interview by Sarfraz Thind