InsuranceAUM.com

Episode 110: Unlocking Value in Corporate Special Situations with Jamie Weinstein, Portfolio Manager and Head of Corporate Special Situations at PIMCO

In this episode of the InsuranceAUM.com Podcast, we explore the dynamic world of corporate special situations and private credit opportunities with Jamie Weinstein, Managing Director, Portfolio Manager, and Head of Corporate Special Situations at PIMCO. Jamie sheds light on how today’s sharp interest rate hikes, inflationary pressures, and shifting liquidity dynamics are creating unique challenges—and opportunities—in the corporate credit landscape.

Jamie offers a deep dive into flexible capital solutions, the current repricing in private markets, and how managers like PIMCO are leveraging their resources to navigate distressed and special situations. From rising default rates to shifts in consumer behavior and supply chain disruptions, Jamie shares actionable insights for insurance investors looking to unlock value in this complex environment. With over $500 billion in credit assets under management, PIMCO’s approach to tailoring capital solutions is a compelling lesson in navigating today’s volatile credit markets.

Episode 109: NAICs Treatment of CLOs with Angela Best and Francisco Paez of MetLife Investment Management

In this episode of the InsuranceAUM.com Podcast, we dive into the NAIC’s proposed changes to the capital treatment of CLOs with Angela Best, Director of CLO Research, and Francisco Paez, Head of Structured Products Research at MetLife Investment Management. With over $200 billion in CLO holdings by insurers, these potential shifts could significantly impact investment strategies and capital efficiency in the insurance sector.

Angela and Francisco provide expert insights on the NAIC’s move from a ratings-based RBC framework to a model-based approach, unpacking concepts like the "no arbitrage" principle and its implications for CLO investors. They also discuss the market’s reaction, the robustness of CLOs as an asset class, and their own strategies to adapt to this evolving regulatory landscape. Whether you’re a seasoned CLO investor or new to structured products, this episode delivers actionable perspectives on how to navigate the complexities of regulatory changes in the insurance investment space.

Episode 108: ETF Masterclass with Ben Woloshin and Brad Kotler of SSGA

In this insightful episode of the InsuranceAUM.com Podcast, we delve into the growing adoption of ETFs by insurance companies with Ben Woloshin, Head of Spider Insurance, and Brad Kotler, Vice President of the Spider Group at State Street Global Advisors. With ETFs becoming an increasingly essential tool in insurance investment portfolios, Ben and Brad share their expertise on how ETFs work, their unique liquidity profiles, and the use cases that make them attractive for insurers.

The discussion covers a range of topics, including the mechanics of ETF trading, the regulatory treatment of ETFs for insurance companies, and strategies like using ETFs for interim beta, hard-to-source asset classes, and efficient portfolio construction for smaller subsidiaries. The duo also explores the benefits of ETFs for enhancing portfolio liquidity and streamlining operations, with real-world insights into the role of capital markets teams in optimizing ETF implementation. Whether you’re exploring ETFs for the first time or looking to deepen your understanding, this episode offers a comprehensive guide to leveraging ETFs effectively within an insurance context.

Episode 107: Liquidity and Volatility in the Bond Market with Shilpa Lakhani, Head of Portfolio Management-Fixed Income Solutions at DWS

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley sits down with Shilpa Lakhani, Head of Fixed Income Portfolio Solutions at DWS, to tackle two critical topics for insurance investors: liquidity and volatility in today’s bond markets. Shilpa provides an in-depth analysis of the macroeconomic landscape, explaining why 2022’s market conditions have been far from normal. From the Federal Reserve’s aggressive tightening cycle to inflationary pressures, spread widening, and deteriorating liquidity, Shilpa dissects the challenges—and opportunities—presented by these unprecedented times.

The conversation also highlights actionable strategies for insurance CIOs navigating these turbulent markets. Shilpa shares insights on positioning portfolios to mitigate risk, take advantage of elevated yields, and avoid potential pitfalls in asset classes such as subordinated consumer ABS and emerging market credit. Whether you’re managing a P&C insurer’s shorter-duration portfolio or a life company’s longer-term liabilities, this episode is packed with valuable perspectives on managing volatility and liquidity challenges in a shifting economic environment.

Episode 106: IG Corporate Credit with Matt Daly of Conning

Join host Stewart Foley, CFA, and Matt Daly, Head of Corporate and Municipal Teams at Conning, for an in-depth discussion on the investment grade corporate credit market. In this episode, they explore how changing economic conditions and geopolitical challenges are shaping opportunities for insurers, including how durable credit fundamentals and tactical positioning can help navigate volatility.

Matt shares insights on the implications of rising yields, evolving credit cycles, and sector-specific dynamics that could influence corporate bond performance. They also discuss strategies for balancing risk and reward in insurer portfolios, from shorter-duration options to defensive sectors like utilities and communications.

Whether you're seeking to understand the current landscape or identify actionable opportunities, this conversation offers valuable perspectives on navigating today’s corporate credit environment.

Episode 105: How to Invest in Private Credit with Bob Morgan, Executive Vice President and Managing Director at 50 South Capital

Join host Stewart Foley as he sits down with Bob Morgan, Executive Vice President and Managing Director at 50 South Capital, to explore the nuances of investing in private credit. Bob provides insights into 50 South Capital’s unique approach as an allocator, discussing how they scrutinize and select managers, negotiate fee structures, and build diversified portfolios tailored to investor needs.

Bob also shares his perspective on the importance of experience through market cycles, the value of private equity-backed loans, and strategies to enhance yield while managing risk. Whether you’re new to private credit or refining your strategy, this episode offers actionable insights into navigating this increasingly popular asset class.

Episode 104: Executive Spotlight: Nazar Alobaidat, Chief Investment Officer of Enstar

In this episode of the InsuranceAUM.com podcast, host Stewart Foley speaks with Nazar Alobaidat, Chief Investment Officer of Enstar Group. Nazar shares insights into navigating the complexities of investment management for a global runoff insurance company, offering a detailed look at how to balance US GAAP accounting with Bermuda’s Solvency Capital Requirement (BSCR).

They explore Enstar’s approach to asset allocation amid today’s volatile markets, discussing alternatives, private credit, and the impact of inflation on portfolio construction. Nazar provides a behind-the-scenes look at how Enstar integrates ESG into its investment strategy, manages exposure to derivatives, and optimizes its use of alternatives for long-term portfolio performance. With a thoughtful take on both risks and opportunities, Nazar also shares personal career advice for navigating the insurance investment industry.

Episode 103: Rip Reeves, Chief Investment Officer and Treasurer at AEGIS Insurance Services

In this heartfelt episode of the InsuranceAUM.com podcast, host Stewart Foley welcomes his longtime friend Rip Reeves, the soon-to-retire Chief Investment Officer and Treasurer of AEGIS Insurance Services. Rip reflects on his remarkable career, from his beginnings in Harahan, Louisiana, to becoming a widely respected leader in the insurance investment world.

Rip shares his experiences managing portfolios through decades of market evolution, from the rise of groundbreaking technologies to the ever-changing complexities of insurance asset management. He also discusses his adventurous personal life, including triathlons, mountaineering, and family relay swims across global landmarks.

As Rip prepares to retire and return to his alma mater LSU to teach investments, he offers insights on the importance of aligning portfolios with insurance liabilities, navigating investment challenges, and maintaining a sense of adventure in life and work.

Episode 102: Emerging Market Corporate Debt with Vic Harling, Head of Emerging Market Corporate Debt at Ninety One

In this episode of the InsuranceAUM.com podcast, host Stewart Foley speaks with Vic Harling, Head of EM Corporate Debt at Ninety One, about the opportunities and challenges in the $2.7 trillion emerging market corporate debt space. Vic highlights the conservative leverage practices of EM companies, the wide range of industries represented, and why market dislocations like those seen in 2022 can create compelling investment opportunities.

The discussion also covers the role of ESG and transition financing in emerging markets, with Vic emphasizing the importance of engaging with heavy emitters to achieve meaningful decarbonization. She explores how EM companies are uniquely positioned to contribute to global sustainability goals, particularly through renewable energy and resource-driven industries. The episode concludes with valuable insights on China’s evolving geopolitical role and practical advice for professionals navigating the financial services industry. This conversation is essential for anyone seeking to understand the value and potential of emerging markets.

Episode 101: Executive Spotlight: Jelani Fenton, Founder and CEO of Safari

In this episode of the InsuranceAUM.com podcast, host Stewart Foley sits down with Jelani Fenton, Founder and CEO of Safari, to discuss how Safari is transforming the talent landscape in the insurance industry. With a focus on diverse, underrepresented talent pools, Safari serves as an incubator for the industry’s next generation of professionals. Jelani shares Safari’s innovative approach to sourcing talent from military transition programs, two-year institutions, and beyond, while providing robust training to help candidates excel in entry-level insurance roles across underwriting, brokerage, and claims.

Jelani also delves into the evolving needs of the insurance industry, highlighting how shifting demographics and an aging workforce present both challenges and opportunities. He emphasizes the importance of connecting with diverse communities and the business case for fostering a workforce that mirrors the population it serves. From addressing the industry’s marketing gap to creating leadership development programs, Jelani shares actionable strategies for bridging the talent gap and fostering entrepreneurial spirit within the industry. If you’re curious about the future of insurance talent and diversity, this episode is a must-listen.