InsuranceAUM.com

Episode 73: Focus on the Fish Tank, Not Just the Fish - An Interview with VSECU’s Robert Miller

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, speaks with Robert Miller, President and CEO of Vermont State Employees Credit Union (VSECU). Drawing on his unique background in financial services and public service, Rob shares how VSECU is fostering a culture of diversity, equity, inclusion, and belonging (DEIB). He explains how workforce diversity parallels investment diversification: just as diverse portfolios reduce risk and enhance returns, diverse perspectives improve organizational decision-making.

Rob reflects on the intentional steps his organization has taken to create an inclusive environment, from embracing tension as a source of innovation to challenging hierarchical norms. He shares the lessons learned following the murder of George Floyd, a pivotal moment that inspired VSECU to deepen its commitment to DEIB. Rob emphasizes that progress requires ongoing reflection, adaptability, and purpose-driven leadership. For financial services professionals and leaders seeking to build more inclusive workplaces, this episode offers valuable strategies and insights.

Episode 72: Rising Rates Pushing Investors Back to Core Bonds

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, is joined by Wesley Pate of Income Research and Management (IR&M) to explore the evolving role of core fixed income in insurance portfolios. As inflation hits a 40-year high and rates rise, Wesley explains why this environment may not be as challenging for insurers as it seems, thanks to the long-term benefits of reinvesting at higher yields.

They discuss the importance of duration-neutral strategies, the return of core bonds as a favored allocation, and how insurers are adapting to regulatory changes like the new NAIC RBC rules and S&P’s proposed capital model. Wesley also highlights the resurgence of municipal bonds, attractive opportunities in securitized assets, and the growing relevance of ESG as part of insurers' investment strategies. Whether you’re a fixed income geek or simply interested in understanding the dynamics of today’s bond market, this episode offers valuable perspectives for navigating the complexities of core fixed income investing.

Episode 71: Former NAMIC CEO Chuck Chamness Reflects on Nearly 30 Years of Serving the Mutual Insurance Industry and Speaks on His New Role at Bain Capital Insurance

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, is joined by Chuck Chamness, recently retired CEO of NAMIC and now Senior Advisor at Bain Capital Insurance, and Matt Popoli, Managing Director and Global Head of Bain Capital Insurance. Together, they discuss the unique challenges and opportunities facing mutual insurance companies, particularly in raising capital and evolving their business strategies in a competitive and changing landscape.

This engaging conversation sheds light on the challenges of balancing regulatory requirements, investment opportunities, and operational growth in an increasingly complex environment. Whether you're an industry veteran or new to the insurance space, this episode offers valuable perspectives on the evolving role of mutual insurance companies and the capital strategies shaping the future of the industry.

Episode 70: Diversity: By Revelation or Revolution

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley sits down with Dion Woods, co-founder of the DIME Program (Diversity Investment Management Engagement), to explore how the program is building a pipeline of diverse talent for the investment management industry. Dion explains the program’s mission to equip high school students from underrepresented groups with the skills, knowledge, and mentorship needed to succeed in finance while also introducing wealth-building concepts to their communities.

Dion shares how the DIME Program is bridging systemic gaps in opportunity through its innovative 3T Model—time, talent, and treasury—and discusses the broader implications of diversity, equity, inclusion, and belonging for businesses and society. With a focus on pragmatic solutions, this conversation highlights the importance of investment, collaboration, and long-term commitment to fostering meaningful change.

Episode 69: Exploring Inflation Drivers Today with Mike Ashton, The Inflation Guy

In this timely episode of the InsuranceAUM.com Podcast, Stewart Foley is joined by Mike Ashton, the "Inflation Guy" and founder of Enduring Investments, for an in-depth discussion on inflation’s wide-ranging effects. They examine the current drivers of CPI, including housing and energy prices, and explore why inflation is now more broad-based.

The conversation dives into real interest rates, Fed policy, and the long-term implications of today’s inflationary pressures, offering critical insights for insurance investors. They also address geopolitical risks, supply chain disruptions, and the value of inflation hedging strategies in navigating these challenging times.

Episode 68: How Real Estate Equity and ESG Converge in an Insurer’s Portfolio

In this episode of the InsuranceAUM Podcast, host Stewart Foley sits down with Sara Queen and Jim Landau from MetLife Investment Management (MIM) to explore how real estate equity and ESG intersect in insurers’ portfolios. They discuss the impact of recent RBC capital charge changes, how real estate acts as an inflation hedge, and the value of direct investment versus funds.

The conversation also highlights how ESG goals, including the Met Zero program and climate risk considerations, are driving innovation in real estate investments. With insights into property-specific trends like industrial growth, multifamily dynamics, and post-COVID office demand, this episode provides actionable takeaways for insurance investors seeking sustainable and diversified strategies.

Episode 67: CyberSecurity Today with Rear Admiral Danelle Barrett (Ret.)

In this episode of the InsuranceAUM Podcast, host Stewart Foley is joined by retired Rear Admiral Danelle Barrett, senior advisor at Academy Securities, to discuss the rapidly evolving landscape of cybersecurity. From ransomware attacks and SCADA vulnerabilities to nation-state threats and phishing schemes, they explore the risks facing businesses and the insurance industry today.

Danelle shares her expertise on how companies can prepare for and respond to cyber incidents, emphasizing the importance of understanding critical operations, implementing zero-trust frameworks, and engaging board members in cyber risk oversight. This episode offers actionable insights and best practices for navigating one of the most pressing challenges of our time.

Episode 66: Tax Equity & ESG Investing – Discover the Dual Benefits

In this episode of the InsuranceAUM Podcast, host Stewart Foley is joined by George Strobel and Billy Huger from Monarch Private Capital to discuss the world of tax credit equity. They break down how tax credits in renewable energy, affordable housing, and historic rehabilitation projects can provide financial returns while advancing ESG goals.

Learn how insurers and other corporations can use tax equity to offset federal and state premium taxes, including creating customized portfolios tailored to specific liabilities. The conversation also covers the growing demand for ESG-aligned investments and the role of tax equity in funding socially impactful and environmentally sustainable projects.

Episode 65: Private Real Estate Debt with Invesco’s Charlie Rose

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley discusses the increasingly prominent role of private real estate debt in insurance portfolios. Learn how these transactions are structured, why the asset class is gaining attention, and how insurers are using it to improve portfolio yield while managing risk.

The conversation also highlights sector-specific trends, the impact of inflation, and evolving opportunities in residential, logistics, and retail real estate. With a focus on risk management and the implications of shifting economic conditions, this episode offers timely insights for insurance investors navigating today’s investment landscape.

Episode 64: Secondaries Investing for Insurance Companies

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley discusses the intricacies of this evolving market with an expert from Landmark Partners, an Ares Company. Learn how secondaries provide liquidity in private equity, real estate, and infrastructure, offering opportunities for diversification and risk-adjusted returns.

The conversation explores why secondaries can be an attractive entry point for insurers expanding into private markets, how capital deployment compares to primaries, and the benefits of shorter duration in investment portfolios. With insights on market trends, downside protection, and Landmark’s integration with Ares, this episode offers timely perspectives for insurance professionals navigating alternative investments.