About this event
IIE Digital Roundtable
Rethinking the Insurance Opportunity Set
Cash Dethroned: Reallocation Opportunities for Insurers under Solvency II
11-12.15pm UKT / 1200-1315 CET
15th July 2021
The last decade has been painful for insurers, with rates reaching the zero bound and for some jurisdictions, even falling through. Alongside, inflation - even if low all this while - has consistently been above these levels, leading to a sustained environment of negative real rates and a slow bleed for insurance portfolios.
Now, as inflation rises post the lifting of pandemic restrictions, the pain is set to get worse as policymakers insist on an accommodative approach on the grounds of transience and sheltering a fragile economy. The crush for yield is set to become more prevalent than ever, as insurers seek new ways of making their balance sheets work harder and deliver shareholder returns.
The implications for the insurance portfolio going forward are profound.
Join us for our latest roundtable, in partnership with M&G Investments, as we begin our exploration over the coming months of key emerging themes now coming through across life and non-life: the sweating of cash, the refashioning of core fixed income away from IG bonds, the trend towards diversification of non-core holdings and the continued evolution of private assets within the insurance portfolio.
With c.€190bn of cash and cash equivalents sitting on European and UK insurance balance sheets earning -0.5% in Euros and effectively 0% in GBP, the 'cash is king' mantra finds itself under severe scrutiny. Join us as we explore and debate the ways in which insurers operating under Solvency II are reframing how they consider cash allocations and liquidity buffers, the role they play in insurance portfolios, and balancing the holy trinity of yield, risk and capital efficiency.
Key discussion topics include:
11.00-11.10 Welcome and opening remarks
Bob Swarup, Insurance Investment Exchange
11.10-11.40 Presentation: Sweating the Balance Sheet
David Parsons & Christian Thompson, M&G Investments
11.40-12.10 Roundtable discussion and debate
12.10-12.15 Closing remarks
Please note that numbers are strictly limited for this and that your participation is vital given the intimate format. Please make every effort to attend or to send a colleague in your place if you cannot attend for any reason.
Our events are always complimentary for insurers, regulators and select independents. They are also eligible for CPD points and quarterly certificates will be issued to attendees to confirm their attendance.
We look forward to what should be an engaging interactive debate and to seeing you (virtually) on 15th July.
In partnership with
Christian joined M&G investments in 2014, as part of the Institutional Fixed Income team. His primary focus is developing the Institutional Fixed Income business specifically with Insurance clients, Pension Funds and Consultants. Prior to joining M&G, Christian worked at Capital Group.
Founder, Insurance Investment Exchange. CEO, Camdor Global Advisors. Director, CIO Network, Geneva Association.
David joined M&G in 2013 and is Head of the Institutional Public Debt Investment Specialist team, working closely with fund management, client service and distribution teams. Prior to joining M&G, David worked at Blackrock, Lombard Odier and JP Morgan Asset Management.
The Insurance Investment Exchange seeks to distil the new complexities of today and finding solutions for tomorrow. Our acclaimed events welcome leaders and senior professionals from across the insurance and investment sectors for thought-provoking and intelligent debate.
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