Insurer Investment Q&As

SAA periodically speaks with investment managers, ratings agencies and regulators to discuss important strategies, trends and issues impacting insurers and their investment portfolio. You can find our recent Q&As here:

Role of Passive & Active Management in Insurer Portfolios

We spoke with Vanguard to discuss the role of passive and active management within insurer portfolios. Highlights from the discussion include benefits in the core insurance general accounts portfolio, use in the surplus portfolio, and below investment grade fixed income investments.

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The Case for Tax-Efficient Crossover Investing

We spoke with Income Research + Management to discuss how the Tax Cuts & Jobs Act has affected insurer portfolio allocations and the current state of municipals within insurer investments. Highlights from the discussion include the expected reduction in municipal allocations by insurers, why municipals continue to play an integral role in insurance portfolio, and where insurers can find potential municipal alternatives.

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Capital Market Opportunities in a Post-QE World

Sean Conaghan, NEAM, spoke at the Insurer Investment Forum XVIII to share their investment views, including commentary on portfolio positioning, fixed income sectors, and the possible implications of a reversal in central bank policy. We spoke with Sean again to discuss the various updates and changes that occurred since March.

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How Should Constrained Insurers Approach Asset Allocation?

We spoke with AAM – Insurance Investment Management to discuss the asset allocation approach for constrained insurance companies. Highlights from the discussion include important ERM considerations, corporate governance best practices and portfolio re-balancing.

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Update and Outlook from Eaton Vance on Bank Loans

We spoke with the Eaton Vance investment team to discuss the current state and outlook on Bank Loans. Highlights from the discussion include the market’s fundamentals, the Fed’s rising rate policy and how bank loans have been impacted by the CLO market and underlying covenants.

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Bond ETF Usage within Insurance Company Portfolios

We spoke with Vanguard Institutional Investor Group to further discuss Bond ETF usage by insurance companies within their investment strategy. Highlights from the discussion include why ETFs are currently in the forefront, common challenges, comparing insurance portfolio managers vs. bond ETF managers.

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