InsuranceAUM.com

Episode 115: Maura Cunningham, CEO and Founder of Rock The Street, Wall Street

In this episode, Stewart Foley sits down with Maura Cunningham, CEO and Founder of Rock The Street, Wall Street, a nonprofit focused on empowering high school girls with financial literacy and inspiring them to pursue careers in finance. Maura shares her journey from the Bronx to Wall Street and how her firsthand experiences with gender and racial disparities in the finance industry fueled her mission to close these gaps.

The conversation explores the cultural factors behind girls’ early disengagement from math and how Rock The Street, Wall Street combats this trend by connecting students with female financial professionals. Maura discusses the organization's rapid growth, future plans, and its impact on creating a more diverse and inclusive pipeline for the finance industry. Don’t miss this insightful dialogue on driving equity and opportunity in financial markets.

Episode 114: Talking MBS, Govies, and Agencies with Jake Remley of IR&M

In this episode, Stewart Foley speaks with Jake Remley, Principal and Senior Portfolio Manager at Income Research and Management, about the dynamic mortgage market and its impact on insurance portfolios. Jake shares insights on how agency MBS has evolved in response to rising interest rates, the extension of mortgage durations, and shifting prepayment behaviors.

They also discuss the broader US government bond market, the role of analytics in assessing mortgage-backed securities, and where Jake sees opportunities for insurers in today’s complex fixed-income landscape. Whether you’re navigating convexity, looking for value in govies, or curious about the state of agency arms, this conversation provides actionable insights for institutional investors.

Episode 113: The 5 Investment Data Challenges with Phil Dauer of Grandview Analytics

In this episode, Stewart Foley sits down with Phil Dauer, Senior Director at Grandview Analytics, to delve into the five key investment data challenges facing insurance companies today. From reconciling data across investment and accounting books (IBOR vs. ABOR) to the complexities of integrating alternative investments and external manager data, Phil shares actionable insights and solutions to these pressing issues.

They also discuss the challenges of asset-liability integration, ensuring compliance validation, and adapting to the evolving landscape of investment oversight. Whether you’re grappling with the intricacies of regulatory requirements or seeking ways to streamline data management, this episode provides valuable perspectives for insurance investment professionals navigating today’s complex market environment.

Episode 112: Executive Spotlight: Waymond Harris, Senior Vice President and Treasurer of Blue Cross Blue Shield of Michigan and President of Bricktown Capital

In this Executive Spotlight episode, Stewart Foley speaks with Waymond Harris, Senior Vice President and Treasurer of Blue Cross Blue Shield of Michigan and President of Bricktown Capital. Waymond shares his approach to navigating volatile markets, emphasizing preparation and diversification to weather uncertainty. He also details the innovative creation of Bricktown Capital, a registered investment advisory subsidiary, which institutionalized compliance and controls to support Blue Cross Blue Shield’s growing enterprise.

Discover how Waymond and his team have built a robust alternatives program, implemented factor-based equity strategies, and fostered a diverse and mission-driven workforce. Waymond also reflects on his West Point roots, the importance of flexibility in planning, and the unique challenges and rewards of managing assets for a not-for-profit mutual company. This conversation is a masterclass in leadership, innovation, and strategic thinking in insurance asset management.

Episode 111: Executive Spotlight: TC Wilson of The Doctors Company

In this Executive Spotlight episode, Stewart Foley speaks with T.C. Wilson, Chief Investment Officer of The Doctors Company, the nation’s largest physician-owned medical malpractice insurer. With $6.5 billion in assets, T.C. shares his strategic approach to managing investments in a challenging market, highlighting the importance of stress testing and proactive risk management to protect liabilities and seize opportunities.

T.C. discusses his career transition from investment consulting to CIO, the benefits of building an internal team, and his pivot towards booked income and infrastructure investments. He also reflects on sustainable investing, collaborating with regulators, and the evolving landscape of investment management fees. Wrapping up, T.C. offers sage advice to his 21-year-old self, shaped by lessons learned on and off the football field. This episode is rich with insights for anyone navigating the complexities of insurance asset management.

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.