Articles by Nathan Tipping
NAIC softens its rating overhaul. Insurers still don’t like it
Insurers worry that the regulatory body could override credit ratings without sufficient explanation
Looser loan terms clear way for more ‘c-on-c violence’
Creditor-on-creditor fighting likely to build, as carve-outs for struggling borrowers get wider
LDI managers disagree on credit collateralised gilt repo
BlackRock and Schroders execute first trades, but others favour different ways to source liquidity
Why some UK pensions might choose to run on
Buyouts are booming but trustees are thinking about alternatives, too
Royal London to enter UK buyout market
Firm joins Utmost Group in planning to tap market this year
Allen & Overy adds to CLO team with new hires
Firm poaches five lawyers from Milbank as it expands structured credit team
Fears of runaway risk on offshore reinsurance
Life insurers catch the eye of UK regulator for pension buyout financing trick
Creditors struggle to stop stressed firms borrowing more
Dropdowns, uptiers and double dips grow in number, and lenders can't prevent them
Esma sounds alarm over conflicts at CLO raters
Investigation points to analysts meeting with managers and notes softening of rating methodologies
IAIS flags concerns about offshore reinsurance growth
Insurers passing risk to foreign firms makes regulation harder, report says
Decarbonising passive funds costs next to nothing – research
Low-carbon versions of index trackers face negligible return drag, paper suggests
How US insurers went to war over CLOs
Mutuals and private equity-backed rivals clash over determination of capital charges
Buy side reflects on BoE’s gilt liquidity lifeline
Lending facility could prevent repeat of last year’s LDI crisis if properly designed, pension and insurance experts say
Investors uneasy as cov-lite terms endure
‘Loosey-goosey’ lending remains dominant despite a tougher environment for borrowers
Big pension schemes are pushing back on private market fees
Schemes offer evergreen investment and cut managers to secure improved terms
LDI crisis could ‘certainly happen again’, pensions experts say
Wave of issuance and a shrinking buyer base likely to spur further volatility in gilts
UK pensions mull discount rate switch after LDI crisis
Large schemes rethink liability calculations as illiquid allocations balloon following ‘mini-budget’
Equitable lobbies for concentration charge on riskier ABS
“Ultra-high correlation of losses” between lower-rated tranches requires new regulation, insurer says
Asset managers offer tailored LDI to smaller pension schemes
Minimum AUM for customised hedging slashed from around £400m to £75m
‘Restricted lists’ on private-equity backed loans irk investors
Privately owned companies are limiting who can buy their debt, hampering liquidity
Iosco warns of leveraged loan ‘vulnerabilities’
As recovery rates plummet, report calls for clearer covenants and more transparency on addbacks
BlackRock plans use of corporate bond repo in new LDI fund
Holding corporate bonds would provide backup liquidity, lift returns
CLO managers tap captive capital for ‘uneconomical’ deals
Funds raised to comply with overturned risk-retention rule underpin 80% of new deals
NAIC proposal sees insurers snub debt rated by smaller agencies
Ability of some corporates to raise capital ‘materially impaired’, bankers say