Agenda: Insurer Investment Forum XVIII

View PDF | Click Here to Register
Subject to Change*
Add to Calendar

Tuesday – March 20, 2018
6:00 P.M. Welcome Reception and Dinner
Grand Floridian Marina Patio Patio & Terrace
(Viewing of Magic Kingdom’s Firework Show at 9 P.M.)
Wednesday – March 21, 2018
8:15 A.M. Breakfast Buffet
Citricos Restaurant (2nd Floor – Main Building)
9:30 A.M. SAA Investment Workshop
Salon 7 & 8 (Conference Center)

Join your peers in discussions of case studies based upon real experience of SAA working closely with clients. Review different investment approaches from both the Board and senior management perspectives. Previous case studies addressed: Asset Allocation, “Best Practices” Investment Policies, Investment Manager Search and Benchmarking.

Noon Box Lunches; Adjourn
Thursday – March 22, 2018 – Salon 7 & 8
7:45 A.M. Breakfast Buffet
Citricos Restaurant (2nd Floor – Main Building)
9:00 A.M. Welcome and Opening Remarks – Salon 7 & 8 (Conference Center)
Alton Cogert, President & CEO, Strategic Asset Alliance
9:20 A.M. How Your Most Important Investment Decision is Changing

Daniel Smereck, Managing Director, Strategic Asset Alliance
John Mohr, Managing Director, Strategic Asset Alliance

We all know that the strategic asset allocation decision determines 90+% of the long run return of your investment portfolio. And, it seems virtually every investment manager and consultant is there to trot out their model and tell you why it is the best guide to making the correct decision. But, it has been said that ‘All models are wrong Some are useful.’ Your manager will tell you its model is useful, but how do you know? What questions should you be asking to better understand those asset allocation recommendations? How can you effectively compare one model to another to determine which is the best for your company’s portfolio?

10:20 A.M. Break
10:30 A.M. The Changing Demands of Rating Agencies on Insurer Investments and ERM

Michael A. Cohen, Principal, Cohen Strategic Consulting/Faculty, Columbia University
Andrew Edelsberg, Managing Director, Insurance, Kroll Bond Rating Agency

Moderator: Alton Cogert, President & CEO, SAA

Rating agencies seem to be leading the charge towards an increasing focus on improved and more sophisticated risk management at insurers. For investments, that means a different way of looking at risk and how it can impact your insurer’s rating. During this freewheeling session, the head of insurance ratings for an up and coming agency joins a consultant focused on rating agency and ERM issues to answer your questions and concerns. With that in mind, you will have the opportunity to pose questions, confidentially, in advance. And, of course, we will have an informal Q&A session during this session. Prepare your company in advance. Get ready for ‘What you thought you knew about rating agencies and investments, but may not fully know now.’

11:30 A.M. Fixed Income ETFs – Regulatory Changes and Insurer Investments

Marc Mercurio, VP – Head of Insurance ETF Business Development, State Street Global Advisors
Kelly Sweppenhiser, Head of Insurance General Account Solutions, The Vanguard Group

Moderator: John Mohr, Managing Director, SAA

Insurers have utilized passive ETF and Index funds for equity exposures for some time. But, effective this year, NAIC approved changes in accounting mean certain bond ETF’s are effectively accounted for like bonds. This change, plus an increasing understanding by many state regulators that an investment in a bond ETF is not a single investment, but a diversified investment in many securities, means insurers can now consider bond ETFs as a viable alternative. But, what are those accounting changes, exactly? What states are bond ETF ‘friendly’? Should you consider investing in bond ETF’s for some part of your fixed income portfolio? And when might it be prudent to do so? Meanwhile, the world of ETF’s is getting more fee competitive all of the time. Two of the largest vendors of such ETFs and Index Funds will participate, answering your questions and concerns.

12:30 P.M. Lunch
Salon 2 (Conference Center)
1:45 P.M. From QE to QT (Quantitative Tightening): Investment Strategies and Asset Classes That Will Benefit
Salon 7 & 8 (Conference Center)

Quantitative Easing – Past, Present and Future

Vincent Reinhart, Chief Economist & Investment Strategist, Standish Mellon Asset Management

We’ll offer a retrospective look at quantitative easing, discuss the current state of monetary policy and provide our views on where we go from here. Did the Fed get what they wanted? What have been the impacts on asset valuations? What does the path toward ‘normalization’ look like? Where do we see opportunities along that path?

2:45 P.M. Capital Market Opportunities in a Post Quantitative Easing World

Sean Conaghan, Asset Class Specialist – Corporate Bond Group, New England Asset Management

NEAM will share their current investment views, including commentary on portfolio positioning, fixed income sectors, and the possible implications of a reversal in central bank policy.

3:45 P.M. Break
4:00 P.M. The Correlation You Don’t Know About Could Crush You
Multi-Asset Strategies in Today’s Environment

David Withrow, Chief Investment Officer, ClearArc Capital

Since the implementation of Quantitative Easing and now tightening, multi-asset class strategies have emerged as one of the most popular investment strategies. ClearArc’s CIO will discuss the advantages of these strategies, yet what investors should be mindful of with respect to asset class correlations when investing, as not all multi-asset class strategies are the same.

5:30 P.M. Reception
Grand Floridian Marina Patio Patio & Terrace
Friday – March 23, 2018 – Salon 7 & 8
8:15 A.M. Breakfast Buffet
Citricos Restaurant (2nd Floor – Main Building)
9:30 A.M. Investment Seminar for Government Risk Pools
Salon 7 & 8 (Conference Center)

Join your fellow government risk pools in discussing the unique investment challenges and opportunities surrounding investing for pools. This session will consist of a case study, a session focused on what strategies SAA is discussing with our pool clients, and then a free-form discussion period where your specific concerns can be addressed. This session is open ONLY to government risk pools due to their unique charter, goals and objectives versus commercial companies. Investment manager sponsors and SAA representatives may also attend.

Noon Box Lunches; Adjourn