Asset liability management
Insurers await Solvency II clarity for asset allocation
Feeling the way
Chinese sovereign wealth funds should dump US stocks, report says
Chinese sovereign funds such as Safe Investment Company and CIC should consider dumping and even shorting US retail stocks during US economic downturns, if they want to adopt an integrated asset and liability management process when making investment…
FSA urged to take direct action against liquidity swap ‘malpractice’
The British Bankers' Association (BBA) has called on the FSA to pursue individual cases of liquidity swap ‘malpractice’, rather than imposing new industry-wide regulations on the transactions
Takaful presents unique ALM challenge for insurers in Asia
Moral assurance
Yen interbank funding market calm as government bond yields retrace
The reduced scale of hedge fund carry trade activities compared with previous crises such as the collapse of Lehman Brothers in 2008 has reined in potential increases in the yen libor rate and short-end JGBs.
Prudential’s Thiam sees Asian infrastructure deals as ALM panacea; 340,000 Asia sales force 'completely insufficient'
Increasing numbers of infrastructure deals in Asian markets may help insurers meet their long-term liabilities, according to Prudential’s group chief executive.
Can life settlements secure mainstream recognition?
Coming of age
Infrastructure - opportunity for pension funds and insurers?
Building capital
Coming inflation means UK pension funds should expand equity allocation
QE2 will spur above target inflation in 2011 and low real yields mean pension funds should look to shares
A liquid market – banks tap insurers' liquidity reserves
A liquid market
Inverted swap spreads see ATP outshoot liabilities by Dkr16.5 billion
Inverted swap spreads see ATP outshoot liabilities by Dkr16.5 billion
Nordic insurers’ interest rate mismatch significant but improving
Better ALM practice behind Nordic insurer's reduced exposure to interest rate mismatches
The battle for retail depositors
The battle for depositors
Asia Risk 15: Noboru Terada, GPIF
Noboru Terada presided over Japan’s $1.35 trillion Government Pension Investment Fund in the mid-1990s, where he overhauled the fund’s governance structure and portfolio management approach. He speaks to Joti Mangat about Japan’s pension industry
Pension funds face huge bill from UK indexing change, analysts warn
Using CPI instead of RPI was intended to save money - but could end up costing UK pension funds billions
Post-crisis pension fund strategic asset allocation
Pension investing is a long-term game – but the financial crisis forced most funds to adjust their strategies to meet the demands of short-term volatility. The impact of this experience has been felt differently across Europe. Clive Davidson reports
Mature pension funds will not survive another financial crisis
Pension schemes have been severely affected by the recent financial crisis. But, according to Cardano’s Theo Kocken and Joeri Potters, the prognosis for recovery is dependent on the maturity of the individual schemes – unless there is widespread systemic…
Asian insurers hedge away solvency fears
Asian insurance companies have sat up and paid attention to their solvency ratios during the past two years like never before. This has led to unprecedented levels of derivatives take-up. But will this conversion to derivatives last? Harry Thompson…
Inverted swap spreads change insurer’s and pension fund’s hedging approach
Inverted swap spreads have defied earlier predictions that they were a short-term aberration to still be a feature 18 months after their first appearance. Is this set to continue and, if so, does it pose an opportunity for pension schemes and insurers?…
Solvency sanctuary?
Asian insurance companies have sat up and paid attention to their solvency ratios during the past two years like never before. This has led to unprecedented levels of derivatives take-up. But will this conversion to derivatives last?
Defining dependence - the changing face of asset class correlation
Diversification let the industry down in the last two years, as alternative asset classes moved in tandem with equity and fixed income. With its estimation so volatile, and its theoretical validity tarnished, correlation’s role in risk management is…
Understanding policyholder behaviour is crucial to the success of ALM and replicating portfolio strategies
Born of interest rate volatility, dynamic policyholder behaviour is a variable no insurer can afford to ignore – yet modelling it is problematic. How are companies adapting to the new market conditions?