InsuranceAUM.com

Episode 28: The balancing act of managing equity risk with Securian Asset Management’s Craig Stapleton

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Craig Stapleton, CIO of Investment Strategies and Risk at Securian Financial Group, to discuss equity stabilization—a rules-based strategy designed to manage equity risk while preserving long-term returns.

Craig shares insights into how Securian developed this approach in response to market volatility, particularly after the global financial crisis, and why traditional risk mitigation strategies, such as shifting to fixed income, may no longer be effective in today’s low-rate environment. They also explore how this strategy can benefit insurance general accounts, pension funds, and other institutional investors by reducing drawdowns and enhancing portfolio resilience.

If you're looking for innovative ways to manage equity risk in an uncertain market, this episode offers valuable insights.

Episode 27: Multi-Asset Solutions from a Recovering Actuary with T. Rowe Price’s Lowell Yura

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Lowell Yura, Head of Multi-Asset Solutions, North America at T. Rowe Price, to discuss how insurers can leverage customized multi-asset solutions to navigate today’s challenging investment environment.

Lowell shares insights on how T. Rowe Price defines and implements solutions, highlighting the importance of portfolio customization, risk management, and balancing short-term and long-term investment objectives. He also explores key market trends, including the impact of low yields, evolving credit markets, and the changing role of equities in insurance portfolios.

With a unique team structure that includes PMs, quants, and actuaries, T. Rowe Price takes an iterative, client-centric approach to investment strategy, helping insurers optimize their portfolios in an increasingly complex market.

Episode 26: Exploring Opportunities in Emerging Markets

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley explores the evolving opportunities in emerging market debt and what insurance investors should consider when allocating to this asset class. With global interest rates at historic lows, insurers are seeking income enhancement and diversification—but does the risk-reward profile of emerging markets make sense?

How have EM fundamentals evolved over the past two decades? What role does proximity to issuers play in risk assessment? And how did EM corporates and sovereigns navigate the COVID-19 crisis? This discussion provides insights on why more insurers are allocating to EM debt and how a total return mindset can help investors navigate cycles.

 

Disclosure

This article has been prepared in conjunction with MetLife Investment Management (“MIM”)¹ solely for informational purposes and does not constitute a recommendation regarding any investments or the provision of any investment advice, or constitute or form part of any advertisement of, offer for sale or subscription of, solicitation or invitation of any offer or recommendation to purchase or subscribe for any investments or investment advisory services. The views expressed herein do not necessarily reflect, nor are they necessarily consistent with, the views held by, or the forecasts utilized by, the entities within the MetLife enterprise that provide insurance products, annuities and employee benefit programs. Subsequent developments may materially affect the information contained in this article. Affiliates of MIM may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives) of any company mentioned herein. This article may contain forward-looking statements, as well as predictions, projections and forecasts of the economy or economic trends of the markets, which are not necessarily indicative of the future. Any or all forward-looking statements may turn out to be wrong. All investments involve risks including the potential for loss of principle.

 ¹ MIM is MetLife, Inc.’s (“MetLife”) institutional management business and the marketing name for subsidiaries of MetLife that provide investment management services to MetLife’s general account, separate accounts and/or unaffiliated/third party investors, including: Metropolitan Life Insurance Company, MetLife Investment Management, LLC, MetLife Investment Management Limited, MetLife Investments Limited, MetLife Investments Asia Limited, MetLife Latin America Asesorias e Inversiones Limitada, MetLife Asset Management Corp. (Japan), and MIM I LLC.

Episode 25: On the Mind: Thoughts On Topical Investment Issues Across the Industry

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley explores the evolving landscape of insurance investing with a focus on asset allocation, private markets, structured securities, and the growing role of OCIOs. As insurers navigate a prolonged low-rate environment, how are they adjusting their risk profiles while maintaining discipline? What trends are shaping the way asset managers and consultants work with insurance clients?

With deep industry expertise, this discussion sheds light on the strategic considerations insurers face, from regulatory challenges to the complexities of private ABS and alternative investments. Don't miss this insightful conversation on the shifting dynamics of insurance asset management.

Episode 24: An Entirely New Risk Paradigm - Northern Trust Asset Management Presents The Risk Report

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley explores key findings from The Risk Report, a study analyzing more than 200 institutional portfolios representing over $200 billion in assets. The research uncovers surprising insights that challenge conventional investment wisdom, including why many portfolios contain twice as much uncompensated risk as compensated risk, how diversification strategies may unintentionally dilute returns, and the hidden risks that can cause unintended outcomes. With insurers facing a prolonged low-rate environment and increased volatility, these findings offer critical guidance for optimizing risk-adjusted performance.

We also discuss why traditional style investing often leads to index-like performance with higher fees, how over-diversification can erode alpha, and the importance of precision in portfolio construction. As insurers rethink their investment strategies, this conversation highlights the need for a data-driven approach to risk management and asset allocation. If you’re looking to enhance portfolio efficiency in today’s evolving market, this episode is a must-listen.

Episode 23: Managing in a Pandemic: Lessons Learned & Next Steps

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Cindy Beaulieu, Chair of the Investment Policy Committee at Conning, to discuss how the COVID-19 crisis reshaped insurance asset management. Cindy shares her firsthand experience from taking on her role in January 2020 and how the pandemic rapidly reminded clients and managers alike of the importance of liquidity and robust risk management. The conversation delves into the dramatic market dislocations, the swift changes in asset valuations, and the critical adjustments required to navigate a low-yield environment—all while preserving the ability to seize opportunistic investments.

The discussion also explores the iterative process of developing customized investment strategies for insurance companies, emphasizing the need to understand each client’s unique risk profile and liquidity requirements. Cindy explains how Conning leverages its deep industry expertise and dedicated research teams to offer tailored solutions that align with clients’ long-term objectives. Additionally, she offers valuable career advice for young professionals, stressing the importance of networking, continuous learning, and embracing entry-level opportunities to build a successful career in the insurance asset management industry.

Episode 22: CIO Viewpoint: Nico Santini of ProSight Specialty Insurance

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley sits down to discuss the shift from managing multiple client portfolios at an asset manager to overseeing a single insurance investment portfolio as CIO. The conversation explores the decision-making process behind internal versus external asset management, the growing role of private markets, and how insurers are adjusting to a rapidly changing investment landscape.

With market volatility, low yields, and evolving risk profiles, insurers are rethinking their approaches to strategic and tactical asset allocation. This discussion highlights the use of ETFs for flexibility, the increasing focus on ESG, and how insurers can balance liquidity with the need for enhanced returns. Tune in for insights on managing insurance assets in today’s challenging environment.

Episode 21: Does Equity Have a Place in Your Portfolio? With T. Rowe Price’s John Linehan

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with John Linehan, portfolio manager of the U.S. Equity Income Strategy and CIO of Equity at T. Rowe Price. With interest rates at historic lows, insurers face increasing challenges in generating yield without taking excessive risk. John discusses how equities can play a vital role in insurance portfolios, balancing income generation with long-term growth, and why active management remains a compelling choice over passive strategies.

The conversation also explores the ongoing debate between value and growth investing, the impact of market dislocations, and how insurers can navigate an evolving investment landscape. John shares insights on sector opportunities, including insurance stocks themselves, and why a customized, research-driven approach is key to meeting insurers' unique needs. Whether you're focused on generating yield or managing portfolio risk, this episode provides valuable insights for insurance asset managers looking to optimize their investment strategy.

 

Assets under management quoted are as of 6/30/20

Episode 20: Grace Vandecruze: From Homeless to Millionaire

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley sits down for a powerful discussion on resilience, financial literacy, and the importance of diversity and inclusion in the insurance industry. From overcoming homelessness to leading a successful M&A advisory firm, the conversation explores how personal experiences shape professional success and why financial wellness is critical for building a more equitable society.

The discussion also highlights the evolving role of insurance in addressing systemic inequities, fostering financial empowerment, and creating opportunities for underrepresented communities. With a focus on leadership, mentorship, and the value of perseverance, this episode offers insights on how the industry can better serve all policyholders while driving meaningful change.

Episode 18: Insurtech: Telematic insurance with Robert Smithson, Founder and CEO of Just Insure

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Robert Smithson, founder of Just Insure, to discuss how Insurtech is revolutionizing the auto insurance industry. Robert shares his journey from the sports betting industry to launching an insurance startup, applying real-time risk pricing and telematics to create a more equitable auto insurance model. By leveraging technology to analyze real-world driving behavior rather than relying on traditional demographic factors, Just Insure aims to offer fairer pricing and greater accessibility—especially for lower-income drivers.

The conversation dives deep into how telematics works, why traditional insurers may be missing the mark on risk assessment, and how real-time data can lead to safer driving habits. Robert also shares his thoughts on the future of the auto insurance market, the potential for telematics to impact road safety, and the opportunities available in the growing Insurtech sector. Whether you're an insurance professional, an investor, or just curious about the intersection of technology and insurance, this episode offers an insightful look into one of the most innovative areas of the industry.