Spotlight

Building blocks - accessing high-quality commercial real estate loans to back long-term insurance liabilities

How to showcase the social value of buildings?

IAR EMEA: Private assets - yesterday's story?

IAR investing in real assets conference 2023 roundup

Green shoots appear for biodiversity investing - but is it the natural habitat for insurers?

Swiss Re's how to: 'value an anteater'

Why ESG has insurers running in circles

Responsible Investing for Insurers 2023

Is there really an emerging market debt "playbook" anymore?

Springing back to life - JGB yields help Japan's CIOs repatriate GAs

The CBIRC's legacy - a safe pair of hands for Chinese insurance regulation

The many forking paths in Asia's net-zero transition

Aligning financial and climate obligations within fixed income portfolios

Comment - Why stranded assets (already) involves much more than fossil fuels in general accounts

Case study: Gjensidige applies basic economics to net-zero

NZAOA expands target setting protocol to govvies and PE

2023 Long-Term Capital Market Assumptions

Insurance Investment Outlook: Will old habits need to change in 2023?

AllianzGI offers hope for a brighter 2023

"Biggest opportunities at the intersection of private market and sustainability investments"

Rethinking the Fixed Income Playbook for Insurers

Insurers have options against inflation, but concerns persist

Investment opportunities amid the gloom

Managing and diversifying credit risk

Investing in forestry: The case for timber allocations in insurance portfolios

Biodiversity: "A twin emergency next to climate change"

The US insurers' take on the net-zero journey

IAR EMEA: Under the hood of ESG data

The tumultuous energy transition

Winds of war prove further tailwinds for Generali Global Infrastructure

Reasons to be cheerful as US CIOs doubly thankful for property's yield and inflation protection

The Asian hedge against stagflation, according to Peak Re chief economist

Dislocation Opportunities in Emerging-Market Debt

China's Insurance Industry (almost) in eight charts

APAC nations boost green bond efforts to satisfy insurers' demand

The Asian hedge against stagflation, according to Peak Re chief economist

APAC nations boost green bond efforts to satisfy insurers' demand

The story of The Very Hungry Insurers - and APAC green bonds

"You can't have everything": can CIOs strike a balance between ESG and returns?

41% of insurers have made no commitment to net-zero

Comment - Can C-Ross Phase II save Planet Earth?

US insurer oil investments benefiting from soaring prices

Research: Insurers' investments in the carbon transition

Seeing the forest and the trees

Five Key Themes for 2022

Four insurance portfolio allocation themes for 2022 and beyond

2022 Investment Outlooks: a brave new world

IAR Americas: Cautious optimism in credit markets

Inflation not as much of an issue as rates

IAR Americas: Post-pandemic investment lessons

IAR Americas: Post-pandemic investment lessons part II

Development finance - infrastructure financing with sustainability goals

Innovation in integrating ESG considerations to a sovereign bond allocation

Adapting to climate change: investing in the resiliency imperative

Insurers warm to public disclosure on climate change risks

Comment: What about the 'how' of net zero?

Is it time to consider a higher yield infrastructure debt strategy?

The real deal - Europe's insurers primed for G7 infrastructure plan

What is driving real asset investment decisions?

Investing in Real Assets (Virtual)

Why are Insurers Allocating to Emerging Market Debt?

EM infrastructure debt is good - but reg's nuts and bolts need more work

How ESG is playing out among Asia's insurers

"Infrastructure debt needs to be tradeable," Swiss Re chief economist says

EM sovereigns at greater risk to physical impacts of climate change

COVID and natcats will spur ESG in Asia, analysts predict

Integrating ESG is best way to manage risks in EMD, NN IP says

Asian emerging markets lead vanguard of EMD, NN IP says

Climate change: why insurers should consider their fixed income portfolios now

CIO interview: "They're not giants, they're only windmills"

IAR outlook survey: sustainability for the next ten years

Businesses and environmental activists - a growing alignment of goals

The Structured Credit Universe Can Offer Attractive Yield Potential and Relative Value

Looking for income in all the right places?

To invest in offices or not invest in offices, that is the question

Axa IMRA acquires four Spanish student accommodations

Germany emerges as "concrete gold" in Europe's real estate market

Insurers advised to stay put with EM holdings amid COVID-19 chaos

Dialling up the asset management products in China

Shift to investing in APAC, particularly China, not going away with COVID-19

China - the giant no longer asleep

Seeking the Silver Lining in Today's Credit Markets

Governments' Ways Means higher inflation

Moody's reveals potential impact of downgrades on Solvency ratios

Free webinar: "Who needs two kidneys?"

UN-convened Net-Zero Asset Owner Alliance rules out coal investments

And calls on underwriters to help investment teams in their engagement efforts

Suncorp to pull out of oil, gas and coal

Insurer asks outsourced managers to price carbon into investment choices

BaFin praises sustainability taxonomy for undermining greenwashing "ploys"

Taxonomy is making it harder to falsely market green investment products

Asset managers pressurise Brazil to ban Amazon fires

Work by asset managers sets 120-day ban following 34% increase in Amazonian deforestation this year

Generali prepares further green investing after €600m bond issue

Green bond is second by Italian insurer

MetLife issuing its first green bonds

US insurer's bonds to fund environmental projects, says Bloomberg

'Greenwashing' is a major challenge for 2020, warns LGIM

Actions speak louder than words, director of investment stewardship Sacha Sadan says

Free webinar: Insurers getting to grips with ESG investments

Insurance Asset Risk's webinar on insurers getting to grips with ESG investments available on replay

Climate change: Investing in the energy transition

Accessing energy transition opportunities in private markets

The Green Bonds market is no longer black and white

The coming decade of transition could reshape how debt finances the low-carbon world

Insurers' affiliates outperforming independent managers on ESG

Half of the world's largest asset managers are neglecting the ecological and social harms of their investments, according to a research by ShareAction. However, insurers' affiliates seem to be ahead of the curve. Vincent Huck reports

Rating agencies' 2020 outlook: stable at best

2020 Asia Outlook: Unthreading the Asian patchwork

US Outlook 2020: an encore for investors

Brit hires Masa Kitade for Asia in ILS push

Will lead business expansion in Japan and Asia generally

Conning launches cloud-based investment optimiser

System can run insurers' asset-only optimisations and/or optimise assets and liabilities

Optimising strategic asset allocation

Watch the replay of this webinar hosted by Insurance Asset Risk in partnership with Moody's Analytics

Finding the holy grail

With low interest rates impacting solvency ratios, insurers are looking for the holy grail of high yielding assets which do not require higher capital charges. Vincent Huck reports

The role of investing in capital optimisation

Insurance companies have traditionally focused most on balance sheet liabilities, with investment assets often overlooked opportunities – strategies now exist that allow insurers to create capital-efficient investment portfolios to enhance yield, improve returns, and optimise capital.

Brexit blows hot and cold for insurers' outsourcing relationships

In the face of growing uncertainties around the date and terms of Brexit, underwriters with UK operations are leaning ever more heavily on their chosen asset managers for help, advice and expertise. David Walker reports

To outsource the CIO, or not?

While outsourced CIOs have been predominantly used in the pension space up until now, small US insurers are increasingly seeing the benefits of such a move. But insurers' needs differ widely from those of pension funds, and service providers will need to prove their worth to win mandates. Sarfraz Thind reports

Insurance affiliates hold their own at top table of Europe's asset managers

Many insurers’ affiliated managers have been sent out by their parents to gather third-party assets in recent years – with varying success. The managers might put their affiliation to an underwriting group forward as a credential to win more insurance mandates, but a European CIO questions whether this can be a universal truth. David Walker reports

The days of an easy life for European non-life investment teams are over

As many non-life insurers come to rely on their investment performance for an ever greater slice of their total profits, or to make up for underwriting losses, investment teams are looking at new asset classes with the help of external managers. Far greater transparency about the insurers' business practices is offering a unique glimpse into what they want and to whom they outsource this key task. David Walker reports

The Structured Credit Universe Can Offer Attractive Yield Potential and Relative Value

With fixed income sector yields at historically low levels, insurers are feeling pressure to achieve their income objectives. In our view, pockets of the securitized market have been overlooked and may help fill this need by providing compelling yield potential and relative value.

ReinSTSted: Are new rules reopening the ABS market for insurers?

Holding asset-backed securities has been a challenge for most insurers since the dislocations of the global financial crisis and introduction of Solvency II. This year, new regulation offers the potential for Solvency II-regulated firms to return to securitised debt investments, says James King, fund manager at M&G.

ESG gets physical: the role of real assets in creating a sustainable future

Physical assets, particularly infrastructure and real estate, have a critical role to play in facilitating the transition towards a more sustainable economy and a greener world. Incorporating ESG considerations is a fundamental part of an asset manager's duty to their clients.

What could derail Britain's infrastructure investing boom?

The UK has for many years been heralded as a treasure trove of investable infrastructure assets. However, as the industry faces potential disruption from renationalisation, regulatory reforms and Brexit, we discuss the risks and rewards of investing in UK infrastructure.

Commercial mortgages close up

Strong returns, stable performance, low risk—the market for commercial mortgage loans has run on tailwinds in the last 10 years with more insurers bringing the asset onto their portfolio than ever before. But, with a looming economic downturn, is the love affair with CMLs about to run out? Sarfraz Thind reports

China’s Belt & Road: where are the insurers’ investments?

As China celebrates the sixth year of its initiative this week, insurers remain reluctant to invest in its projects. Vincent Huck asks why

UN-convened Net-Zero Asset Owner Alliance rules out coal investments

And calls on underwriters to help investment teams in their engagement efforts

Suncorp to pull out of oil, gas and coal

Insurer asks outsourced managers to price carbon into investment choices

BaFin praises sustainability taxonomy for undermining greenwashing "ploys"

Taxonomy is making it harder to falsely market green investment products

Asset managers pressurise Brazil to ban Amazon fires

Work by asset managers sets 120-day ban following 34% increase in Amazonian deforestation this year

Generali prepares further green investing after €600m bond issue

Green bond is second by Italian insurer

MetLife issuing its first green bonds

US insurer's bonds to fund environmental projects, says Bloomberg

'Greenwashing' is a major challenge for 2020, warns LGIM

Actions speak louder than words, director of investment stewardship Sacha Sadan says

Free webinar: Insurers getting to grips with ESG investments

Insurance Asset Risk's webinar on insurers getting to grips with ESG investments available on replay

Climate change: Investing in the energy transition

Accessing energy transition opportunities in private markets

The Green Bonds market is no longer black and white

The coming decade of transition could reshape how debt finances the low-carbon world

Insurers' affiliates outperforming independent managers on ESG

Half of the world's largest asset managers are neglecting the ecological and social harms of their investments, according to a research by ShareAction. However, insurers' affiliates seem to be ahead of the curve. Vincent Huck reports

Absence of US insurers in global climate initiative eye-opening

Climate Action 100+ releases first progress report as pressure on climate-aware investing grows

"The Answer Is Simple: Take Smart Risk"

Lisa Longino, head of insurance asset management at MetLife Investment Management, argues that while it is prudent to keep a close eye on the horizon, uncertainty and volatility create opportunities for investors willing to take smart risks.

Asian equities & ESG outlooks 2019

Hilde Jenssen, product manager for fundamental equities at Nordea Asset Management provides a 2019 outlook for equities in the Asian region as well as latest trends in environmental, social and governance factors (ESG). The outlook is based on views from Nordea Asset Management emerging markets portfolio management team.

Outlook 2019: Diversification is the only free lunch left in town

Prashant Sharma, head of international fixed income insurance at JP Morgan Asset Management, predicts a slowdown in growth for 2019, but all is not lost for insurers’ assets and a bit of forward thinking and preparation could help the resilience of their investments in the case of a downturn.

EM debt - worth a look in the latter stages of the credit cycle?

A market downturn is deemed to have more impact on emerging markets (EM) than on developed economies. It poses the question whether EM debt is a smart investment at this stage of the credit cycle. Ian Coulman, chief investment officer at Pool Re, speaks with Vincent Huck on the topic.

What's behind the wall: US insurers' investments in EM debt

Emerging markets should be an attractive option for US insurers as the Federal Reserve looks to cut rates, making opportunities at home less attractive. But, as the Trump government continues building trade barriers, are US government policies stymying enthusiasm for the asset class? Sarfraz Thind reports

Singaporean life insurers exposed to risk of falling asset prices

Despite strong buffers over and above their minimum capital requirements, two of the four largest Singaporean insurers by assets breach minimum capital requirements in the International Monetary Fund's stress test. Vincent Huck reports

African infrastructure, an asset class underserved by insurers

Sanjeev Gupta, executive director at Africa Finance Corporation and former CEO of Sanlam Investment Management Emerging Markets operations speaks to Insurance Asset Risk about mitigating risks in African infrastructure investments and why insurers are under-investing in the asset class. Interview by Vincent Huck

Emerging market corporate debt stands alone

Emerging market corporate debt has been a rapidly growing universe over the last 10 years. What might be of surprise is that over 55% of the EM corporate universe is investment grade.

EMD and insurers: strange bedfellows?

“Emerging market debt (EMD) is still not seen as a core asset class for many European insurers, due to concerns over its risk/return profile, credit spectrum and market capacity. We believe these concerns are misplaced.”

Climate change increases cost of debt for developing countries

The intensification of climate risks and the degree to which they are accurately priced by financial markets are of increasing concern to global economic stability. However, as awareness around those risks has risen over the last years, there is still a long way to go to consistently measure and monitor their costs, which can result in substantial gains or losses for institutional investors. Vincent Huck reports

Artificial intelligence gets real

In recent investor presentations and earnings calls, we have increasingly come across the terms ‘artificial intelligence’ (AI) and its terminology bedfellows, ‘machine learning’ (ML) and ‘Big Data’. While companies have addressed these concepts for a few years now, they have taken centre stage in the last 12 months.

How to connect new technologies with strategy

MetLife's chief digital officer Greg Baxter talks to Paul Walsh about which technologies are his top priorities, how such technologies can be applied to asset liability management in a Solvency II environment and what investments the firm is making in the digital economy.

Allianz's CIO Carsten Quitter talks technology, ESG and the relationship with Allianz's asset managers.

In a two-part series Allianz's CIO, Carsten Quitter, speaks to Insurance Asset Risk some three years after his predecessor Andres Gruber told of his challenges. In part two, Quitter talks about the latest themes affecting his role as CIO: technology, ESG and the relationship with Allianz's asset managers. By Sarfraz Thind

Private markets: end of the credit cycle, start of a new era?

Insurers have increasingly invested in private assets in recent years to counter the low yield environment. But as we enter the later stages of the credit cycle, questions are being raised on whether private assets were tactical short-term choices, or if insurers have fully embraced these asset classes. Vincent Huck reports

A slow growth for US infrastructure

A US infrastructure overhaul is due—that much is common knowledge. However, so far, institutional investors and especially insurers have been coy to invest due to policy hurdles at the federal level. As each state administration starts to address these issues, insurers are seeing opportunities building up. David Turner reports

Insurers' shift into private credit sparks evolution in internal rating capabilities

With insurers showing greater appetite for private credit, authorities are keen to ensure firms are applying robust credit risk assessments – but the lack of rating agencies in the space is giving regulators and insurers a headache. Asa Gibson reports.

Development finance - infrastructure financing with sustainability goals

Institutional investors are increasingly financing infrastructure projects in developing countries.

Adapting to climate change: investing in the resiliency imperative

Climate change is accelerating, and society is underprepared for the rising human, environmental, and economic toll. Investing in climate adaptation can help address the problem.

Innovation in integrating ESG considerations to a sovereign bond allocation

Sovereign bonds are a key asset class for insurers. Aegon Asset Management takes an innovative approach to incorporating sustainability characteristics into sovereign bonds investing.

Comment: What about the 'how' of net zero?

As insurers pledge allegiance to the net-zero kingdom, for all their willingness and honesty, the 'how' of reaching carbon neutrality remains a mystery, Vincent Huck writes.

Insurers warm to public disclosure on climate change risks

SFCRs reveal much about European insurers' financial health and, since 2020, also a lot about their preparations to tackle climate change risk, as David Walker finds

Designing portfolios to cope with physical climate risk

Michael Lewis, head of ESG Thematic Research at DWS, discusses physical climate risk and how the financial system's approach to this concept will evolve.

Zurich's Johanna Köb: investors can make a return while doing good

Johanna Köb, head of responsible investment at Zurich, talks to Cintia Cheong on the importance of adequate pricing of greenhouse gases and how investors can make a profit while doing good to the society and environment.

The case for ESG

From the diesel emissions scandal to the perceived exploitation of zero-hour contracts, there have been many examples in recent years of how failures in the way companies are run can have a harmful impact on the environment, society and investor returns.

Brewing storm: Are investors discounting climate risks and opportunities?

Asset prices do not seem to be adequately reflecting the long-term systemic risk from global climate change. Wellington Management's Alan Hsu explains why insurers are likely to lead the repricing of climate risk – and how multi-decade public-equity approaches might help.

Why it's time for insurers to embrace ESG investing

A growing body of evidence suggests that ESG investing fosters better investment decisions, performance and risk management. While insurers lag other institutional investors in embracing ESG investing, momentum is building and things look set to change.

Green Bonds: a primer

Insurers are looking more closely than ever at the current trend of green bond investment. But is this just a fashion? And what should investors be aware of when putting money into this still nascent sector? David Turner reports

Retirement villages and care homes - an antidote to longevity risk?

The ageing population in Europe, often viewed as a great risk for the life sector, may also provide attractive investment opportunities through retirement and care home properties. Axa's real estate business is already active in the space. Asa Gibson reports

Build-to-rent: an emerging opportunity?

Within the booming UK real estate industry, where a lack of supply has inflated valuations and rental prices, the build-to-rent sub-sector offers an alternative revenue stream for insurers. Cintia Cheong reports

Building the case for investing in real estate debt

Real estate debt can offer a set of outcomes well suited to the needs of insurers, including a solid relative value proposition, stable cashflows, strong investor protections and transparent security against physical underlying assets. John Barakat, head of real estate finance, M&G Investments explains

Urban logistics: "the hottest game in town"

The projected growth of e-commerce and urbanisation has seen real estate investors showing increasing interest in urban logistic centres. Paul Walsh explores the nascent asset class as an opportunity for insurers.