8 April 2015

Finnish insurer chooses Conning's ESG

LocalTapiola, a large mutual insurance group in Finland, has signed a multi-year licence for Conning's Gems economic scenario generator (ESG).

The ESG will be used to calculate capital and the market value of liabilities, as well as to provide the real-world economic scenarios and asset modelling needed to support LocalTapiola's investment team in their strategic asset allocation (SAA) process.

Conning's Gems software simulates future states of the global economy and financial markets, using economic models and providing full market risk and asset class coverage.

Lauri Saraste, LocalTapiola Life
Lauri Saraste, LocalTapiola Life
"The real-world scenarios of the Gems ESG are used to understand the risk-return features of the different asset classes in order to optimise strategic asset allocation with market-consistent liabilities in our investment operations," said Samu Anttila, chief investment officer of LocalTapiola Life and responsible for the group-level ALM operations.

"With this software we can easily have several different outlooks on the long-term SAA decision-making process. We are long-term investors and we also have solvency capital that needs to be utilised efficiently."

Lauri Saraste, chief actuary at LocalTapiola Life, said, "We chose Conning because we required more advanced models that were consistent both for risk-neutral and real-world applications, were easy to recalibrate to match our in-house views and provide unrivalled fits to market data, which really is crucial for us."

Conning, headquartered in Hartford, Connecticut, is an investment management company serving the global insurance industry, with more than $94bn in assets under management as of 31 December 2014.

Latest Stories
  • Nuveen appoints former Unum CIO as head of insurance advisory

    15 July 2025

    Martha Leiper joins manager in consultative capacity

  • Moody's appoints global co-head of insurance

    15 July 2025

    Antonello Aquino to take on role

  • Allianz Capital Partners takes minority stake in data centre platform

    15 July 2025

    Invests in Yondr Group via partnership with DigitalBridge and La Caisse

  • MEAG backs heating-as-a-service firm with €120m

    15 July 2025

    Acts as sole arranger on bond for Paul Tech

  • APAC Weekly: Profit growth among Indian asset managers

    15 July 2025

    Profits and other key metrics for Indian AMs were centralised in the IPO offering document for Pru/ICICI Bank's AM

Cookies on Insurance Asset Risk

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here