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Investment and Asset Management, Insurance, Finance

Managing Assets for Insurers Europe

Strategies for business growth and sustainable investment

Munich |
Speakers include:
Dr Klaus Wiener

Dr Klaus Wiener

German Insurance Association (GDV)

Urs  Bitterling

Urs Bitterling

Allianz SE

Claudia Bolli

Claudia Bolli

Swiss Re

Overview

The eurozone economy faces an uncertain future. The combination of persistently low core inflation and weak growth leaves European financial markets vulnerable. Global trade tensions continue to be a major concern for investors. With interest rates remaining on hold despite the end of quantitative easing, insurers must consider changing their portfolios to suit the evolving environment. What are the most favoured asset classes in Europe, and how can insurers adjust their asset allocation? Will emerging markets continue to have long-term potential?

Europe is widely regarded as leading the way in incorporating ESG into investment decisions. Many insurers have already started to focus on investing sustainably but significant obstacles remain. How do they access high-quality ESG data? How can they encourage companies to improve their transparency? As many organisations have started to publish ESG ratings, how should insurers select their benchmarks on? How can regulators offer more clarity and consistency in their guidance on ESG?

Following the European Commission’s decision to adopt new rules supplementing Solvency II, how will these changes affect insurers’ investment allocations? Which problems need to be addressed in the 2020 Solvency II review?

Financial Times and MandateWire are delighted to present the third Managing Assets for Insurers Europe half-day conference in Munich. Against an uncertain global economic outlook the agenda will explore insurers’ insights on managing uncertainty, adapting to regulations and incorporating sustainable investment factors, and delivering returns through asset diversification.

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fallback Add to my Calendar 11/20/2019 08:30:0011/20/2019 14:00:00trueManaging Assets for Insurers EuropeThe eurozone economy faces an uncertain future. The combination of persistently low core inflation and weak growth leaves European financial markets vulnerable. Global trade tensions continue to be a major concern for investors. With interest rates remaining on hold despite the end of quantitative easing, insurers must consider changing their portfolios to suit the evolving environment. What are the most favoured asset classes in Europe, and how can insurers adjust their asset allocation? Will emerging markets continue to have long-term potential?Europe is widely regarded as leading the way in incorporating ESG into investment decisions. Many insurers have already started to focus on investing sustainably but significant obstacles remain. How do they access high-quality ESG data? How can they encourage companies to improve their transparency? As many organisations have started to publish ESG ratings, how should insurers select their benchmarks on? How can regulators offer more clarity and consistency in their guidance on ESG?Following the European Commission’s decision to adopt new rules supplementing Solvency II, how will these changes affect insurers’ investment allocations? Which problems need to be addressed in the 2020 Solvency II review?Financial Times and MandateWire are delighted to present the third Managing Assets for Insurers Europe half-day conference in Munich. Against an uncertain global economic outlook the agenda will explore insurers’ insights on managing uncertainty, adapting to regulations and incorporating sustainable investment factors, and delivering returns through asset diversification.Managing-Assets-for-Insurers-Europe0263f4122e91d0073c6b1b64a0a64dd0MM/DD/YYYY

Untitled Block

Ahead of the FT Managing Assets for Insurers Europe conference, Financial Time's Insurance Correspondent, Oliver Ralph interviews Lauren Smart, Will Martindale and Hugh Savill, please click below for the videos:

Lauren Smart, Managing Director, Global Head Financial Institutions Business Trucost, part of S&P Global discusses how investors follow different approaches for ESG integration.
https://youtu.be/VCbnhOFUv7Q

Principles for Responsible Investment (PRI), Director of Policy and Research, Will Martindale highlights the gap between companies’ ESG commitments and true degree of implementation.
https://youtu.be/AjCkwqitWpw

Hugh Savill, Director of Regulation, Association of British Insurers discusses how Brexit and rising illiquidity could affect insurance regulation.
https://youtu.be/J6Z2EoBuZBo

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Photos

View photos from the 2018 event here.

MAI Flickr

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Speakers (6)

Dr Klaus Wiener

Dr Klaus Wiener

Managing Director and Chief Economist
German Insurance Association (GDV)

Dr Klaus Wiener is the Managing Director and Chief Economist of the German Insurance Association (GDV) in Berlin. As a member of the management board, he is in charge of the economics, investments, and legal departments. Prior to joining the GDV, he worked for Assicurazioni Generali, a leading European insurer. At the group level, he was responsible for the tactical asset allocation of a € 400 bn portfolio, while also holding the position of Chief Economist in the Asset Management Division of the Group, Generali Investments Europe. Following his academic education, he started his professional career in the banking sector, working in the economics department of the Commerzbank in Frankfurt and the Westdeutsche Landesbank in Düsseldorf. He holds a Ph.D. in Economics from the University of Georgia, USA. 

Urs  Bitterling

Urs Bitterling

Head of Corporate Responsibility
Allianz SE

Urs is the Head of Corporate Responsibility at Allianz SE. In his role, he is responsible for ESG (Environment, Social and Governance) integration into business, sustainability ratings and reporting, corporate citizenship programs, donations and disaster relief. Previously, he coordinated Allianz’s work on Climate Change and Sustainability Initiatives. This work covered the ongoing decarbonization efforts of Allianz Group across its business lines and operations. Also, he managed the ESG integration strategy of Allianz Group for investments.

Claudia Bolli

Claudia Bolli

Head Responsible Investing
Swiss Re

Claudia Bolli is responsible for the development and the implementation of the Responsible Investing strategy with Swiss Re since 2014. As such, she was instrumental in the transition of Swiss Re’s investment portfolio to ESG benchmarks as one of the first re-/insurance companies. Before Claudia Bolli moved to the insurance business, she held several functions in the international banking business. In June 2018, she was selected by the European Commission to join the Technical Expert Group on Sustainable Finance. Specifically, she participates in the development of the requirements for the “climate transition" and "Paris-aligned” benchmarks as well as the benchmark ESG disclosure. Claudia Bolli holds a master degree in corporate finance and banking from the University of Zurich, and is a Certified International Investment Analyst (CIIA).

Jelle  van der Giessen

Jelle van der Giessen

Chief Investment Officer
NN Group

Mr Jelle van der Giessen serves as the Chief Investment Officer at NN Group, a composite insurer listed in the Netherlands with substantial Life and Non-Life business in Europe and Japan. He is responsible for NN’s investment portfolio of around EUR 170 billion. Before the demerger of insurer NN from banking group ING in 2014, he was Chief Investment Officer Europe at ING Investment Management. Before moving to Insurance and Asset Management, Mr Van der Giessen had a senior investments leadership role at ING Direct out of Madrid. He started his career at NMB, a former retail bank in the Netherlands. He holds a Master’s in Geology and Geophysics from the University of Utrecht.

José Luis Jiménez  Guajardo-Fajardo

José Luis Jiménez Guajardo-Fajardo

Chief Investment Officer
Mapfre

José Luis Jiménez is Chief Investment Officer of MAPFRE since September 2015 where he is in charge of the Investment Unit. Before joining MAPFRE he was CEO of March A.M, the boutique asset manager of Banca March in Spain. Prior to joining March A.M. he was Head of Asset Allocation at Skandia Investment Group - Skandia’s global investment arm - based in the United Kingdom. Before that he was Chief Investment Officer at SkandiaLink in the European and Latin America Division- first in Madrid and then in Paris. He began his professional career as an economist in the Research Department of Caja Madrid before joining Skandia Vida as Chief Economist.

Mr Jimenéz is Founder and Chairman of the Group of Boutique Asset Managers (GBAM): an international network of specialized asset managers with more than 17 members Worldwide.

He has combined his professional work with lecturing in Macroeconomics at the IE Business School. He is an Economics graduate from the Universidad Complutense. He has a diploma from the London School of Economics and attended the Global Senior Management Programme (GSMP) at the IE Business School and Chicago Graduate School of Business. Finally, he attended also the Oxford Strategic Leadership Programme at Oxford Said Business School.

Robert Kubin

Robert Kubin

Chief Investment Officer
PZU

Robert Kubin acts as the Chief Investment Officer at PZU, the largest insurance company in the CEE region based in Poland with businesses also in the Baltics and Ukraine. Mr Kubin is responsible for all investment areas of the company among others management of life and non-life portfolios, ALM, strategic and tactical asset allocation. Before joining PZU, Mr Kubin served as a Director at MetLife responsible for the investment strategy of multiple European portfolios. Before MetLife, he worked as the Chief Investment Officer for Central Europe at AIG and a Member of the Board of Directors of Alico Funds CE. Mr Kubin holds a Master of Science degree from the University of Economics in Prague. He is also a CFA charter holder. He is native in Czech and speaks fluently English and Polish.

 

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Co-Chair (1)

Henry Smith

Henry Smith

Global Editor, Analysis section
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)

Ina Lockhart

Ina Lockhart

Online News Editor
FAZ.NET

Ina has been working as a business journalist since 1995. She is a member of the online editors’ team of FAZ.NET, the online news site of the Frankfurter Allgemeine Zeitung (F.A.Z.) since May 2014. She also regularly contributes to the asset management magazine dpn Deutsche Pensions & Investmentnachrichten which is published by F.A.Z. Fachverlag. In addition, Ina takes a keen interest in stories linking art to the business world.

In 1999, she joined as one of the founding members of the Financial Times Deutschland (FTD), where she stayed for more than a decade. She started as a member of the financial markets reporters’ team and later became the financial markets editor being one of the co-heads of the Frankfurt FTD bureau. She started her career at Dow Jones Newswires reporting on the German automotive industry and European equity markets. She holds a degree in applied languages and business studies.

Ina is an experienced moderator. Over the years she has chaired a range of panels in German and English at different conferences such as the FTD’s flagship banking conference, the FAZ Forum’s M&A and Art conferences, the dpn Roundtables for institutional investors and the Financial Times’ Insurers Europe conference. She is based in Frankfurt am Main, Germany.

Agenda - 20th Nov

  • 8:30am
    Registration and networking
  • 9:00am
    Opening remarks
  • 9:05am
    Keynote interview: Outlook for the insurance sector
    • With weak growth projected across Europe and interest rates expected to remain on hold, what can the European Central Bank (ECB) do to offset the downside risks of the slowdown?
    • With the eurozone economy heavily reliant on exports, global trade battles and Brexit continue to be the key concerns. The region’s third largest economy, Italy, is in recession and the largest economy,  Germany, narrowly avoided recession at the end of 2018. Is the slowdown showing signs of becoming more long-lasting?
    • Expectations of a strong expansion in the US following the end of quantitative easing are scaled back, while China lowered its target for economic growth in 2019. How are these macroeconomic factors affecting the insurance and asset management industries? Are developed markets losing their attractiveness?
    • What are the new growth recipes for the insurance industry? Where are the main opportunities and challenges for investment?
    • In which areas do insurers expect to see increasing risk levels in 2020? Despite the need to secure high returns, will insurers become more risk-averse? 

    Dr. Klaus Wiener, Managing Director and Chief Economist, German Insurance Association (GDV) 

    Interviewed by Henry Smith, Global Editor, Analysis section, MandateWire

  • 9:35am
    Panel discussion: Analysing the investment landscape
    • What regions and asset classes are taking the lion’s share of capital? What is the outlook for yield in traditional and non-traditional asset classes? What risks do these alternative assets hold, especially in the light of weak growth in the eurozone?
    • The volatility in sterling and the euro remains a key concern for asset managers. How can insurers heavily invested in the euro diversify their portfolios? Are emerging market currencies a safe haven?
    • Insurers no longer put private market assets and hedge funds in the alternatives buckets. As these investments rather become a more central part of insurers’ investment portfolio how is the level of competition among buyers and sellers affected?
    • How does tightening US monetary policy affect allocations to US assets?
    • Many insurers are taking advantage of the growth potential of Asian markets, China in particular. Following the inclusion of China A shares in MSCI indices from June 2018, have insurers increased their allocation to A-shares?

    Jelle van der Giessen, Chief Investment Officer, NN Group

    Jose Luis Jimenez, Chief Investment Officer, Mapfre

    Robert Kubin, Chief Investment Officer, PZU

    Moderated by Henry Smith, Global Editor, Analysis section, MandateWire

  • 10:20am
    Presentation
  • 10:45am
    Refreshment break
  • 11:15am
    Presentation
  • 11:40am
    Panel discussion: Mainstreaming responsible investment
    • Some insurers operate a double-exclusion policy by not only refusing to invest in companies that do not meet their ESG criteria but also declining to provide them with policies. How far have insurers embedded their exclusion policies into their business side?
    • Excessive investment in popular responsible investment sectors can lead to overproduction in that sector have an impact on that theme or sector itself. Could consideration of lesser known ESG-themed investments and companies lead to better returns? If so, how can insurers identify them? How can insurers distinguish the ESG companies that are in need of capital to promote their sustainable purposes from those that are in financial distress?
    • Ability to integrate sustainable investment effectively depends on having access to enough high-quality data on individual companies’ ESG performance. Do insurers have access to high-quality external ESG data? How can they put pressure on companies for greater disclosure?
    • ESG ratings are a significant challenge. Numerous organisations publish ratings that can produce widely different scores for the same company. How do insurers select which rating to benchmark on? How can regulators and financial disclosure initiatives encourage consistency among ESG rating companies? 
    • What holds insurers back from signing the United Nations’ Principles for Responsible Investment (PRI) and refining their approach to responsible investments? What difference does it make in processes and documentation?
    • Within the sub-categories across sustainable investment which topics do insurers tend to prioritise? 

    Dr. Urs Bitterling, Head of Corporate Responsibility, Allianz

    Claudia Bolli, Head Responsible Investing, Swiss Re

    Moderated by Ina Lockhart, Online News Editor, FAZ.NET

  • 12:25pm
    Dual interview: Regulatory changes
    • Following the European Commission’s decision to adopt the new rules supplementing Solvency II, allowing insurers to invest more in equity and private debt and to provide long-term capital financing, it will be easier for them to invest in SMEs and provide long-term funding to the economy. How could these changes help mobilise private-sector investments?
    • Have concerns regarding Solvency II , such as high risk margins, been addressed in the European Commission’s review? Which problems need to be tackled in the 2020 Solvency II review?
    • ACPR, the French prudential regulator, now allows insurers to move certain types of pension business off their balance sheets and out from under Solvency II regulation into new occupational pension vehicle. How could this move stimulate the European economy? What business opportunities are there for asset managers to manage these new pensions portfolios?
    • Depending on the final terms of Brexit if there is no enhanced equivalence model and financial passporting how will existing contracts be affected?
    • What other regulatory issues are a concern for insurers?
  • 12:55pm
    Closing remarks
  • 1:00pm
    Networking lunch

Who Attends?

This event is free to attend for professionals representing insurance firms with job titles including: 

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

A limited number of paying places are available to senior representatives of professional service firms, asset managements, fund management, technology, payments companies and business consultancies to purchase here.

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Presented by (2)

The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. The FT has a record paying readership of one million, three-quarters of which are digital subscriptions. It is part of Nikkei Inc., which provides a broad range of information, news and services for the global business community.

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.

Sustainable Partners (1)

About Robeco

Robeco is a pure play international asset manager founded in 1929. It currently has 15 offices worldwide and is headquartered in Rotterdam, the Netherlands. Through its unique integration of fundamental, sustainable and quantitative research, Robeco is able to offer both institutional and private investors an extensive selection of active investment strategies, covering a broad range of asset classes. As at 30 September 2018, Robeco had EUR 171 billion in assets under management, 70% of which were institutional. Robeco is a subsidiary of ORIX Corporation Europe N.V. which had assets under management of EUR 299 billion as at 30 September 2018. 

As an active owner Robeco engages with companies on plastic and waste management. It is proud to be the Sustainability Investing Partner of City to Sea, subscribing to their mission to prevent marine plastic pollution at source. As the supporting partner of their Refill Campaign – designed to promote the use of refillable bottles - Robeco will be offering reusable water bottles and free refills for the Insurers conference delegates.

 Learn more about Robeco and the Refill project at www.robeco.com

Silver Sponsor (1)

BNP Paribas Securities Services is a multi-asset servicing specialist with local expertise in 36 markets around the world and a global reach covering 90+ markets. This extensive network enables us to provide our institutional investor clients with the connectivity and local knowledge they need to navigate change in a fast-moving world.

Exhibitor (1)

Private Lunch Sponsor (1)

For four decades, State Street Global Advisors has served the world’s governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world’s third largest asset manager with nearly US $2.80 trillion* under our care.

 

* This figure is presented as of March 31, 2019 and includes approximately $33 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

Supporting Partners (2)

MandateWire is a leading source of institutional asset management intelligence. It’s a financial information database delivering high-value sales intelligence, market data and analysis to the European, North American and Asian institutional investment market. By leveraging close relationships with many leading global institutional investors, MandateWire provides fund managers, investment banks and specialist investment houses with well-timed and credible intelligence on investor strategies and business opportunities.

With a particular focus on hard-to-find private information, MandateWire is a proven sales and business development tool providing reports on confirmed and forthcoming tenders, as well as analysis of market trends and finalised deals. Our database holds key contact details for over 20,400 institutional investors, with a combined known worth of over $76tn in 2017.

With MandateWire, you can extract reports on a single investor, on particular consultants and managers, or institutional investors around the world. Search results can also be split into equities, fixed income and alternatives, so you can view activity in those asset classes. We have skilled, multi-lingual journalists and researchers based in London, New York, Hong Kong and Manila. Engaging with investors in their native language, they focus on relationship-building within their specific market: this leads to unique and dependable institutional intelligence.

The MandateWire CRM Integration Solution takes the power of MandateWire (Intelligence, Investor/ Consultant Directories and Analysis) and centralizes it within Salesforce to dramatically improve the workflow of your sales team.

To learn more on how MandateWire can help you win more business, or to sign up for a free trial and emo, visit: www.mandatewire.com.

FTfm is the touchstone for the global fund management industry. It provides news, trend analysis, interviews, debate and thought leadership to the world's top asset managers and institutional investors, as well as prices.

Distributed every Monday throughout Europe and Asia, with a monthly US edition, it is unique in the market place, delivering focused editorial with a huge distribution.FTfm is read by institutional and professional investors, analysts, traders, C-Suite executives, consultants and other corporates and professionals interested in the global asset management industry.

FTfm is also available online at www.ft.com/ftfm. FTfm's extra online content includes video interviews with industry members; Q&As with key figures; Comment & Opinion, where readers can discuss FT editorial. Readers can also register for the free weekly FTfm email update.

For our advertisers, it provides access to the World's leading asset managers and investors.

FT's Insurance Correspondent, Oliver Ralph's Interviews

Ahead of the FT Managing Assets for Insurers Europe conference, Financial Time's Insurance Correspondent, Oliver Ralph interviews Lauren Smart, Will Martindale and Hugh Savill, please click below for the videos:

Lauren Smart, Managing Director, Global Head Financial Institutions Business Trucost, part of S&P Global discusses how investors follow different approaches for ESG integration.
https://youtu.be/VCbnhOFUv7Q

Principles for Responsible Investment (PRI), Director of Policy and Research, Will Martindale highlights the gap between companies’ ESG commitments and true degree of implementation.
https://youtu.be/AjCkwqitWpw

Hugh Savill, Director of Regulation, Association of British Insurers discusses how Brexit and rising illiquidity could affect insurance regulation.
https://youtu.be/J6Z2EoBuZBo

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Venue

Bayerischer Hof
Promenadeplatz 2-6,
Munich 80333

Germany

Tel: +49 89 21200

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