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Insurance, Investment and Asset Management, Finance

Managing Assets for Insurers

The search for yield

London |
Speakers include:
Jérôme Haegeli

Jérôme Haegeli

Swiss Re

Gareth  Quantrill

Gareth Quantrill

RSA Group

Rob  Groves

Rob Groves

Pension Insurance Corporation

Overview

The prolonged ‘lower for longer’ interest rate environment has hurt insurers' returns; the search for yield is now at the forefront of their investment strategies. Certain assets which would have been considered too risky under rigid Solvency II regulations are now becoming more attractive as companies change business plans to maximise returns.

European insurers are considering boosting allocations to risky fixed income investments and illiquid alternatives. Does this open up more opportunities for non- captive asset managers? As companies steer towards real assets, what strategies can be used to diversify asset allocation successfully? What type of assets should investors be focusing on in order to manage capital and diversify?

With regulatory challenges and new capital rules are insurers still getting used to Solvency II? What risks do these alternative assets hold, especially in the light of Brexit? To what extent does the new US administration's return to higher interest rates affect insurers long term strategy?

Financial Times Live and MandateWire present the Managing Assets for Insurers half day conference. With the UK’s vote to leave the EU cementing the idea that interest rates will stay low in the long-term, the agenda shall explore the search for yield and the challenges and opportunities that arise. Industry experts will provide crucial insights into diversifying portfolios, asset allocation and how insurers can move forward in a volatile economic landscape.

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fallback Add to my Calendar 03/30/2017 08:30:0003/30/2017 13:30:00trueManaging Assets for Insurers The prolonged ‘lower for longer’ interest rate environment has hurt insurers' returns; the search for yield is now at the forefront of their investment strategies. Certain assets which would have been considered too risky under rigid Solvency II regulations are now becoming more attractive as companies change business plans to maximise returns.European insurers are considering boosting allocations to risky fixed income investments and illiquid alternatives. Does this open up more opportunities for non- captive asset managers? As companies steer towards real assets, what strategies can be used to diversify asset allocation successfully? What type of assets should investors be focusing on in order to manage capital and diversify?With regulatory challenges and new capital rules are insurers still getting used to Solvency II? What risks do these alternative assets hold, especially in the light of Brexit? To what extent does the new US administration's return to higher interest rates affect insurers long term strategy?Financial Times Live and MandateWire present the Managing Assets for Insurers half day conference. With the UK’s vote to leave the EU cementing the idea that interest rates will stay low in the long-term, the agenda shall explore the search for yield and the challenges and opportunities that arise. Industry experts will provide crucial insights into diversifying portfolios, asset allocation and how insurers can move forward in a volatile economic landscape.Managing-Assets-for-Insurers-14be1838c37ab6e1a306735c16776b4bMM/DD/YYYY

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Speakers (12)

Jérôme Haegeli

Jérôme Haegeli

Managing Director, Head of Investment Strategy
Swiss Re

Jérôme Haegeli is Managing Director, Head of Investment Strategy at Swiss Re. He is responsible for formulating the overall investment outlook for Swiss Re Group Asset Management as well as the asset class views for Swiss Re’s global investment portfolio. He is also Co­Chair of the Institute of International Finance (IIF)’s Council of Asset and Investment Management Working Group, whose mandate is to analyse and address issues and challenges for long­term investment arising from both market dynamics and regulatory reforms. At the IIF, he is also a member of the Principles Consultative Group and the Market Monitoring Group. Prior to joining Swiss Re in 2008, Dr Haegeli was Head of Emerging Market Bond Research at Bank Julius Baer, Advisor to the Executive Board of the International Monetary Fund (IMF) in Washington DC from 2004­07 and Senior Economist at the Swiss National Bank (SNB) and UBS Warburg. On the IMF Executive Board, the Fund’s decision-making body, he represented the interests of Switzerland and the SNB. Prior to starting his career at UBS Warburg, Dr Haegeli was a Visiting Fellow at Harvard University for his PhD dissertation on the Asian currency crisis. He holds a PhD in Economics from the University of Basel, and a Master of Science degree in Economics from the London School of Economics.

Gareth  Quantrill

Gareth Quantrill

Group Investment Manager
RSA Group

Gareth Quantrill is an investor with over 20 years experience of managing Life, General Insurance and Pensions and structured credit portfolios for a number of UK and US institutions. Currently he is responsible for investment strategy and asset allocation as well as managing £ and € fixed income portfolios. He lead the commitment of over £1bn to illiquid credit opportunities via funds, direct and with third party managers.

Rob  Groves

Rob Groves

Chief Investment Officer
Pension Insurance Corporation

Rob Groves leads PIC’s Investment team and has overall responsibility for managing the company’s fast growing portfolio. PIC manages assets directly in-house and via external asset managers. He was previously CIO at Friends Life, with responsibility for running investment strategies for the annuities business, with-profits and unit linked funds. He has previously worked for UBS, Dresdner Kleinwort and Towers Watson.

Hugh  Savill

Hugh Savill

Director of Regulation
Association of British Insurers (ABI)

Mr Savill is Director of Regulation at the ABI, with accountability for relations between the insurance industry and the Bank of England on prudential regulation, for relations with the Financial Conduct Authority on conduct regulation, and also for taxation issues affecting insurers.

He sits on the Executive Committee of the ABI, and reports through the Prudential, Finance and Tax Committee to the ABI Board. At the ABI he has held a number of Assistant Director roles, covering EU and international affairs, UK public affairs, and ABI member relations and events. He was temporary Director of Investment Affairs for 18 months before moving into his current role in 2012.

He joined the ABI in 2005 from the UK Department of Trade and Industry (DTI), now the Department for Business, Innovation and Skills. In 20 years at the DTI, Hugh worked on the finance and governance of the Department, faced off to the Scott Inquiry into the sale of arms to Iraq, and specialised in the negotiation of EU regulation.

He is a well-known insurance lobbyist at European and International level, member of the ECOFIN Committee of Insurance Europe, and chairs the Capital Task Force of the Global Federation of insurance Associations.

He was educated at Harrow School, and read Modern Languages at New College, Oxford University.

Olav Jones

Olav Jones

Deputy Director General and Director Economics and Finance
Insurance Europe

Olav Jones is the Deputy Director General & Director Economics and Finance at Insurance Europe, the federation which represents the European insurance industry. He is based in Brussels and he responsible for all issues relating to Prudential Regulation, Financial Reporting, Investments and International Affairs. He is also a member of the IFRS Advisory Council and Vice-Chair of the European Insurance and Occupational Pensions Authority (EIOPA)’s Insurance and Re-Insurance Stakeholder Group.

Mr Jones spent 15 years in the insurance industry working at Prudential Plc, Fortis Insurance and Ageas primarily in risk focused roles including Chief Risk Officer. He started his career as a consultant to the financial services industry with Oliver, Wyman and Company, after studying Engineering and Finance.

Alexandre  Mincier

Alexandre Mincier

Global Chief Investment Officer
HSBC Holdings Group Insurance

Alexandre Mincier has extensive experience with institutional investments under a changing regulatory environment, dealing with market consistent capital management (Solvency II) and building investment solutions for insurance. He has been in charge of the investment activities of HSBC Insurance since mid 2015. Previously he was the Head of Investment Solutions for AXA Group from 2010 to 2015; he was leading the hedging activities of AXA between 2007 and 2010. After a couple of years in signal processing research for telecommunications, he accumulated 15 years financial experience dealing with capital markets, ALM, modelling, structuring and institutional investments.

Alain Bokobza

Alain Bokobza

Head of Global Asset Allocation and a member of the SG Global Research Executive Committee
Societe Generale

Alain Bokobza is currently Head of Global Asset Allocation and a member of the SG Global Research Executive Committee. He joined SG in 1992 as Equity Strategist and was appointed Head of Cross Asset Strategy in 2005. Prior to joining SG, he spent eight years at Crédit Lyonnais Asset Management as Manager of European Equities and Global Commodity Funds. Mr Bokobza and his team were ranked #1 in Cross Asset Research (Economics and Strategy category) in the Thomson Extel Surveys, each year from 2008 to 2016. He obtained a degree in 1985 from Neoma Business School (Rouen Business School, France) and graduated in 1997 from the Kellogg Graduate School of Management (Northwestern University, Chicago, USA)

Iain  Forrester

Iain Forrester

Investment Director, Insurance Solutions
Standard Life Investments

As an Investment Director within the Insurance Solutions team, Iain Forrester supports the development of Standard Life Investments' investment propositions for Life and General Insurers globally and provides external industry thought-leadership on insurance investment. He joined Standard Life Investments in May 2015, bringing substantial insurance and Solvency II experience from his 13 years within Standard Life Group. At SL Group, he was Head of Asset-Liability Management for its UK and European business, with responsibilities including the development and implementation of ALM and investment strategy for with profits business, annuity portfolios, and surplus funds. Mr Forrester is a Fellow of the Institute & Faculty of Actuaries, IFoA (2005) and has an MA (Cantab) in Mathematics from Cambridge University.

Jérôme Jacques

Jérôme Jacques

Global Head of Asset Backed Products
Societe Generale

Jérôme Jacques is Global Head of Asset Backed Products (ABP), covering trading, engineering and distribution of ABS and structured finance loans in the primary and secondary markets. He joined Société Générale Corporate & Investment Banking in 1989 and was assigned several positions in the corporate finance and securitization activities over the last 15 years, including Head of the European Residential and Commercial Mortgage Backed Securities Group, and Head of Securitization for the Americas. In 2008, he became Head of Fixed Income, Currencies & Commodities Division for the Americas and then Co-head of the Global Markets division for the region. Over the 2010-2014 period, Mr Jacques was Co-Deputy Global Head of Natural Resources and Energy Financing, one of the poles of excellence of Société Générale. He graduated from Hautes Etudes Commerciales (HEC), and holds a Master in Accounting and a BA in Economics from the University La Sorbonne.

Heneg Parthenay

Heneg Parthenay

Head of Insurance
Insight Investment

Heneg Parthenay joined Insight in January 2015, as Head of Insurance. Before joining Insight, he was Head of Insurance at BNY Mellon Investment Management EMEA Limited. He also sat on BNY IM EMEA’s executive committee. Prior to joining BNY Mellon, he spent eight years at Aviva, holding a range of corporate development and capital management positions. His last assignment at Aviva was on the executive committee of their global asset management arm as M&A and Strategy Director. Prior to joining Aviva, Mr Parthenay worked in the Insurance Division of Renault and was asset liability manager for the Global Corporate Insurance Division of AXA. He holds a Masters in Finance, Banking and Insurance and a Masters in Risk Management from Paris Dauphine University. He also holds a Masters in Actuarial Science and is a Fellow of the French Institute of Actuaries. In addition, he holds his Series 3 licence and is an Associated Person with the National Futures Association.

Barry  Fowler

Barry Fowler

Managing Director, Alternative Income Solutions
Aviva Investors

Barry Fowler joined Aviva Investors in 2014 where he leads the growth and development of the Alternative Income Solutions business, seeking to maximise opportunities in originating and managing portfolios in the alternatives space of Real Estate Finance, Infrastructure Debt and Equity, Structured Finance, Private Corporate Debt and Multi Assets.  Prior to, joining Aviva Investors, he led multiple client facing teams working for Lloyds Banking Group where he was head of corporate real estate responsible for origination, strategy and portfolio management within the Real Estate team. He had previously spent 18 years with Bank of Scotland, with nine of those spent originating and relationship managing UK and European leveraged finance transactions.  He is a member of the Chartered Institute of Bankers in Scotland.

Chris Price

Chris Price

Head of Insurance Solutions, UK
AXA Investment Managers

Chris Price joined AXA IM in June 2016 as Head of Insurance Solutions UK. Previously he was at Deutsche Bank where he was Director of Insurance Asset Management and Head of Industry Solutions in the UK. Prior to this, he spent five years as Financial Controller at Brit Insurance Holdings, two years at Markel Syndicate Management as finance director and three years at St. Paul Syndicate Holdings as Group Finance Director. He first joined the insurance industry in 1987 at English and American Group plc where he became Group Financial Controller in 1993. However his career in finance began at Coopers & Lybrand (now PWC) before becoming Finance Manager at Sea Containers Ltd. Mr Price holds a Bachelor’s degree in Pure Mathematics and Mathematical Statistics from the University of Exeter and is also a CFA Charterholder.

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Chair (1)

Henry Smith

Henry Smith

Editor, Analysis
MandateWire

Henry Smith’s career at the Financial Times Group began in 1997 as a reporter on Offshore Financial Review. From 1999, he was features editor and subsequently editor of FT Mandate, a global institutional investment publication. In 2011, he was instrumental in the launch of the Analysis section of MandateWire, a digital institutional investment intelligence service for asset managers around the world.

Moderator (1)

Owen Walker

Owen Walker

Asset Management Correspondent
Financial Times

Owen Walker is an award-winning journalist who has covered business and investment issues in the US, UK and continental Europe. He is Asset Management Correspondent with the Financial Times, having previously served as Commissioning Editor in the Special Reports team.  Before that he edited special FT publications on corporate governance, retail investment and pension scheme management. He has served as trustee on the board of the Pearson Group Pension Plan and was a committee member of the Association of Member Nominated Trustees. Mr Walker is author of a book on activist investors, Barbarians in the Boardroom, which was published in June.

Agenda - 30th Mar

  • 8:30am
    Registration and networking
  • 9:00am
    Chair's opening remarks

    Henry Smith, Editor, Analysis, Mandatewire

  • 9:05am
    Keynote Interview: Growth recipes: the need to strengthen private capital markets

    Jérôme Jean Haegeli , Managing Director – Head of Investment Strategy, Swiss Re

    Moderator - Henry Smith, Editor, Analysis, Mandatewire

  • 9:35am
    Presentation: European Insurance Investment: The Changing Landscape
    • Trends in insurance investment – have recent SAA changes been in line with CIO expectations from the SLI European Insurance Survey?
    • Private Credit – working in partnership to access the illiquidity premium
    • Looking ahead – impact of future changes in European and Global insurance capital standards

    Iain Forrester, Investment Director, Insurance Solutions, Standard Life Investments

  • 9:55am
    Panel: Investing for alternative incomes
    • What are the opportunities and challenges of investing in alternative assets and why they are so popular?
    • While investing in infrastructure how can project and investment risks be managed in a way that preserves asset value, effectively deploys capital and reduces volatility?
    • How are managers of infrastructure debt funds dealing with the shortage of suitable infrastructure projects to invest in?
    • With increased complexity associated with these solutions, are insurers turning to external managers for their skills?

    Rob Groves, Chief Investment Officer, Pension Insurance Corporation 

    Alexandre Mincier, Global Chief Investment Officer, HSBC Holdings Group Insurance

    Barry Fowler, Managing Director, Alternative Income Solutions, Aviva Investors

    Moderator - Owen Walker, Commissioning Editor, Special Reports, Financial Times

  • 10:40am
    Refreshment break
  • 11:10am
    Asset-backed debt distribution in Europe – Where do we stand?
    • Supply side / macro perspective
    • Key asset class under consideration
    • Yield, relative value and illiquidity premium

    Alain Bokobza, Head of Global Asset Allocation and a member of the SG Global Research Executive Committee, Societe Generale

    Jérôme Jacques, Global Head of Asset Backed Products, Societe Generale

  • 11:25am
    Interview: Key Insurer experience with alternatives
    • Discussion with CIO of key insurer about the process of investing in interesting assets.

    Gareth Quantrill, Group Investment Manager, RSA Group

    Moderator - Henry SmithEditor, Analysis, Mandatewire

  • 11:45am
    Panel: Risk and Reward

    A Discussion on investment risk and reward in the context of both Solvency II requirements on the one hand and the impact low interest rates on the other.

    • How can insurers make an adequate return in a low-yield environment and obtain capital relief for more efficient risk taking? Should investments be in low risk low return assets or should there be an increase of risk in portfolios?
    • In addition to the common risks associated with more traditional investment strategies such as credit risk and assets/liabilities mismatching what risks do illiquid investments expose insurers to? What differences are their between life and non-life insurers risk?

    Olav Jones, Deputy Director General & Director Economics and Finance, Insurance Europe

    Hugh Savill, Director of Regulation, ABI

    Heneg Parthenay, Head of Insurance, Insight Investment

    Chris Price, Head of Insurance Solutions UK, AXA Investment Managers

    Moderator - Owen WalkerCommissioning Editor, Special Reports, Financial Times

  • 12:30pm
    Chair's closing remarks

    Henry Smith, Editor, Analysis, Mandatewire

  • 12:35pm
    Networking Lunch

Who Attends?

FT Live has a reputation for delivering very senior board level audiences to attend a wide range of world class thought-leadership events across the globe for nearly 40 years. 

This event has been produced to meet the needs of the following professionals in the insurance sector: 

  • Chief Investment Officers
  • Chief Risk Officers
  • Heads of Asset Liability Management
  • Heads of Capital Management
  • Heads of Asset Allocation
  • Members of investment committees 

A limited number of paying places, priced at £1,599 per delegate, will be made available to senior representatives of professional service firms, asset managements, fund management, technology, payments companies and business consultancies.

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Venue

Painters’ Hall
9 Little Trinity Lane
London EC4V 2AD
Tel: 020 7248 3923
Email: info@lifeskitchen.com

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Accommodation

For accommodation options close by to Painters' Hall, please click on the link below. HotelMap provides live availability for nearby accommodation and the ability to book rooms guaranteed at the lowest available rates.

https://www.HotelMap.com/pro/MCRE6

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Organisers (2)

Financial Times Live (FT Live) is the global conferences and events division of the Financial Times Group. Chaired by senior journalists from the Financial Times Group, the summits, conferences, awards and strategic forums organised by FT Live gather the world’s brightest minds and most influential decision-makers.

Exclusive on-stage interviews, stimulating presentations and lively panel debates – available on multiple content platforms – provide the cutting-edge insights, unique personalities and peer audience engagement that have the power to transform finance, business, politics, society and culture.

The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of 840,000. Mobile is an increasingly important channel for the FT, driving more than half of total traffic.

Part of the Financial Times Group, MandateWire provides European, North American and Asian money managers with rapid, reliable and high-value business intelligence on institutional asset flows - helping them to win the race for mandates. Although MandateWire fully covers the public domain, its value lies in the information it sources from private funds - information that’s extremely hard to find elsewhere.

Platinum Sponsors (2)

Societe Generale Corporate & Investment Banking


At the core of Societe Generale’s universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with around 12 000 professionals and a commercial offer in 37 countries with extensive European coverage and representative offices in Central and Eastern Europe, the Middle East, Africa, the Americas and the Asia-Pacific region.
Standing by its clients across sectors, the Corporate & Investment Bank offers bespoke financial solutions combining innovation, advisory services and high execution quality in four areas of expertise: investment banking, financing,market activities and investor services.

  • For Corporates, Financial Institutions, Sovereigns and the Public Sector: strategic advice on their development (M&A, debt, capital structure, and asset & liability management), as well as capital market access to finance this development and hedge their risks notably in the realm of foreign exchange and rates.
  • For Investors: offering reliable and sound investment opportunities and risk management solutions through its integrated platform delivering comprehensive access to markets (fixed income, credit, foreign exchange, commodity markets, equity, and derivatives), as well as advice and financial engineering, quality of execution, forward-looking research, and an industry-leading clearing proposition & prime brokerage services.



www.cib.societegenerale.com

Standard Life Investments is a leading asset manager with an expanding global reach. As at 31 December 2016, Standard Life Investments managed £277.9 billion on behalf of clients worldwide. Our investment capabilities span equities, fixed income, real estate, private equity, multi-asset solutions, fund-of-funds, absolute return strategies and liability-driven investments.

The insurance sector is very important to Standard Life Investments and we currently manage insurance assets worth £159 billion, as at 31 December 2016. This includes the management of £101 billion for our parent company Standard Life. In addition, we manage £58 billion for a wide range of insurance clients across the UK, US, Europe and Asia.

As a result, we have significant experience of working with insurance companies and helping meet their investment objectives. We also have a track record of working with clients to develop innovative solutions that enhance their risk-return profile.

Gold Sponsors (3)

Aviva Investors is a global asset manager experienced in managing alternative assets including private corporate debt, structured finance, infrastructure debt and long-income real-estate. The depth and scale of the investment platform combined with our insurance heritage means we have the ability to originate income-producing, unlisted, private assets that deliver client specific risk aware outcomes under a solvency II regime. Our insurance heritage combined with an investment philosophy that focuses on delivering meaningful outcomes for our clients covers both public and private markets and means that we are well placed to help 3rd party insurance clients meet their investment needs now and over the long-term.

AXA Investment Managers offers over 20 years’ experience of partnering with insurers to design and implement integrated insurance solutions - from asset allocation, through capital efficient investment strategies, to balance sheet management and regulatory reporting.

In today’s ultra-competitive environment Insurers seeking to optimise their investment portfolios to meet their financial, accounting and regulatory objectives need a strong long-term partner, with the flexibility to adapt to their evolving investment and resource needs over time.

AXA IM’s deep understanding of the challenges that insurers of all types face, combined with our breadth and depth of expertise across traditional and alternative asset strategies, means that we are uniquely well placed to design real-world solutions to meet your real-world needs. 

Insight Investment is an autonomous asset manager owned by BNY Mellon, based in London, New York and Sydney. Over the past decade we have built a unique investment platform that delivers outcome-oriented investment solutions to clients. We currently manage £523bn (€613bn, $646bn)*.

Our clients are among the most sophisticated institutional investors in the world and include leading insurers, pension funds, sovereign wealth funds and corporations. We aim to build resilient portfolios targeting an outcome, in partnership with clients. Our investment strategies are designed to evolve dynamically to meet changing needs and stay ahead of market developments.

Insight is at the forefront of developing new ways of investing, providing institutional investors with access to innovative investment strategies, coupled with robust risk management techniques. We were a pioneer in recognising the unrewarded nature of currency risk and the importance of liabilities. Liability-driven investment (LDI) has been a significant contributor to protecting funding levels for pension funds over the past decade.

*As at 31 December 2016. Assets under management (AUM) are represented by the value of cash securities and other economic exposure managed for clients.

Exhibiting Sponsor (1)

Invesco offers diversified strategies and solutions spanning equities, fixed income, multi asset, real estate, private equity and other alternatives, supporting insurance companies, pension schemes and other institutions. While clients choose Invesco for many reasons, our high conviction style, passion to exceed and commitment to providing a superior investment experience underpins everything we do.

 

Media Partners (1)

Savvy Investor www.savvyinvestor.net is the world’s leading research platform for investors – curating, distributing and promoting investment white papers to institutional investors. The site is split in to 50 topic sections, with a dedicated section for Insurance Asset Management research

At registration, each member specifies the topics that they are interested in, resulting in a very personalised experience. With over 16,000 members, Savvy Investor is growing fast. Every month, over 12,000 white papers are downloaded from our site – more than any other platform. 

Register now for free at www.savvyinvestor.net

Supporting Partners (2)

allaboutrisk.com – the destination site for all things Risk!

allaboutrisk.com (AAR) brings together the suppliers and buyers in risk management, compliance and trading and is aimed squarely at the Financial Services and the Energy/Commodities trading markets.

The key features of the site include; comprehensive vendor directories, risk events, risk jobs, daily news and a weekly newsletter. We also produce an AAR Risk Software and Services Report which is now in its 10th successful year in 2017.

For more information please contact Jane Stoll on +44 (0)20 7193 6737 or by email at jane.stoll@allaboutrisk.com or visit www.allaboutrisk.com

Insurance Europe is the European insurance and reinsurance federation. Through its 34 member bodies — the national insurance associations — Insurance Europe represents all types of insurance and reinsurance undertakings, eg pan-European companies, monoliners, mutuals and SMEs. Insurance Europe, which is based in Brussels, represents undertakings that account for around 95% of total European premium income. Insurance makes a major contribution to Europe's economic growth and development. European insurers generate premium income of more than €1 100bn, employ almost one million people and invest over €8 500bn in the economy.

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