InsuranceAUM.com

Stewart Foley
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InsuranceAUM.com

Tune in to the InsuranceAUM.com Podcast, hosted by our Managing Partner, Stewart Foley, CFA. Our podcast features insightful conversations with CIOs, asset managers, and other distinguished professionals in the insurance asset management industry. Each episode delves into the latest trends, challenges, and opportunities, providing listeners with valuable perspectives and practical advice. Don’t miss out on these engaging discussions that are essential for insurance investors and asset managers.

  1. 6 DAYS AGO

    Episode 249: Zombie Securitizations and Tail Risks: Understanding Fixed Income Challenges

    In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, sits down with Jake Remley, CFA, senior portfolio manager at Income Research & Management, for a deep dive into the world of structured securities. Jake brings his 20-plus years of experience in securitization to the discussion, explaining complex concepts like "zombie securitizations" and how to identify tail risks in the evolving landscape of asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS).   Jake shares insights on avoiding potential pitfalls in structured credit investments and emphasizes the importance of bottom-up analysis in navigating complex securitizations. With real-life examples like the recent write-down of 1740 Broadway, the episode offers practical guidance for institutional investors aiming to understand securitized debt structures and optimize risk-adjusted returns. For those keen on fixed income, this episode sheds light on the nuances of structured credit and its implications for portfolio management.

    27 min

  2. OCT 14

    Episode 248: Why are Residential Whole Loans the Talk of the Town?

    In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, speaks with Alfred Chang, Head of Residential Loan Trading at MetLife Investment Management, about the growing role of residential whole loans in insurance portfolios. As a repeat guest, Alfred shares valuable insights into why this asset class is gaining traction, particularly for life insurers seeking capital efficiency and risk-adjusted returns. He compares the benefits of investing in residential whole loans versus public RMBS, highlighting how the private market offers unique opportunities through better control and transparency. Alfred also explains how a lack of housing supply and improved credit quality have made today’s market very different from the housing crash of 2008.   Drawing on more than 10 years of experience in residential credit, Alfred discusses MetLife Investment Management’s approach to mitigating risk through careful loan selection, strong counterparty relationships, and thorough due diligence. He also delves into the operational complexities of managing large volumes of individual loans and how MIM works closely with clients to address the reporting, accounting, and liquidity challenges of this asset class. If you’re interested in how residential whole loans can fit into an insurance company’s broader investment strategy, this episode is a must-listen.

    27 min

  3. OCT 10

    Episode 247: The ABCs of C-PACE: Revolutionizing Green Financing for Insurance Investors

    In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, welcomes Jessica Bailey, President and CEO of Nuveen Green Capital, and Laura Parrott, Senior Managing Director and Head of Private Fixed Income at Nuveen. Together, they explore the intricacies of Commercial Property Assessed Clean Energy (C-PACE) financing, a rising asset class that offers insurance investors both strong returns and a chance to positively impact climate change. Stewart, Jessica, and Laura break down how C-PACE can be used to finance energy-efficient building projects, blending public policy with private investment to drive real change in the built environment.   Listeners will hear about Jessica and Laura’s personal career paths, the growth of C-PACE, and why it’s become an attractive option for institutional investors, especially those in insurance. From policy challenges to the role of private capital in scaling this green initiative, this episode provides valuable insights for anyone looking to balance financial goals with responsible investing.

    38 min

  4. OCT 7

    Episode 246: Demystifying CMBS: Opportunities and Challenges in Today's Market

    In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, sits down with Adriano Taylor Escribano, Principal Senior Quantitative Analyst at Jennison, for a compelling discussion on the role of commercial mortgage-backed securities (CMBS) in insurance company portfolios. Adriano shares his fascinating career journey, starting with his early days working in a college kitchen to his expertise today in structured products. He walks listeners through the complex landscape of agency and non-agency CMBS, highlighting their importance in commercial real estate (CRE) lending and their strategic place in insurance portfolios.   The conversation explores key aspects of CMBS, including the differences between Freddie K, DUS, and Ginnie Mae project loans, and the impact of interest rate volatility on the market. Adriano provides expert insight into the current trends in CMBS, including the shift from 10-year to 5-year conduit issuances, and discusses how the Fed’s recent rate decisions could affect the market moving forward. This episode is a must-listen for insurance investment professionals looking to deepen their understanding of CMBS and its evolving role in portfolio construction.

    26 min

  5. SEP 30

    Episode 245: Market dynamics, opportunities and creative solutions in private credit

    In this episode of the InsuranceAUM.com podcast, Stewart Foley talks with Grady Frank, Partner and Head of Private Credit Origination at GoldenTree Asset Management, about the evolving landscape of private credit. Grady delves into how GoldenTree approaches the upper end of private credit markets, focusing on large borrowers and navigating complex refinancing solutions. He discusses key opportunities in dividend recaps, M&A activity, and private credit's role in financing large transactions, while also sharing insights on maintaining discipline in credit underwriting amidst a challenging economic environment.   Grady provides an inside look at the state of the private credit market, its growing importance for economic stability, and how firms like GoldenTree balance flexibility with a commitment to strong returns. The conversation covers how private credit has evolved, fund size implications, and the potential for M&A resurgence, making this episode essential for insurance investors looking to understand this rapidly growing asset class.

    35 min

  6. SEP 26

    Episode 244: Risk, Opportunity, and Flexibility in Today's Credit Market: Jason Walker of Manulife CQS

    In this episode of the InsuranceAUM.com podcast, Stewart Foley sits down with Jason Walker, Co-Chief Investment Officer at Manulife CQS, as part of the CIO Spotlight series. Jason shares his insights into current market conditions, focusing on the importance of downside protection and the opportunities created by market dislocations. He emphasizes how sentiment, liquidity, and new variables are reshaping markets, offering opportunities for savvy investors. Jason also discusses the impact of higher rates on credit markets, structured credit, and how his team at Manulife CQS navigates uncertainty with a disciplined, bottom-up approach.   The conversation dives into significant risk transfer (SRT) markets, U.S. commercial real estate, and the role of flexibility in portfolio construction. Jason explains how experience and strategic risk-taking are key to capturing returns in today's markets. With a thoughtful discussion on political risk and opportunities in structured credit, this episode is packed with insights from a seasoned CIO leading through complex market conditions.

    29 min

  7. SEP 23

    Episode 243: Extension Strategies in Emerging Debt

    In this episode of the InsuranceAUM.com podcast, host Stewart Foley, CFA, sits down with Sid Dahiya, Head of Emerging Market Corporate Debt at Aberdeen, to discuss the evolving landscape of emerging market debt and the extension strategies that can unlock value for insurance investors. Sid provides an in-depth analysis of the size and characteristics of the EM corporate debt market, comparing it to other asset classes such as U.S. high yield. He also explains how Aberdeen’s proprietary tools and bottom-up investment approach can help manage risk in this complex asset class. Sid offers insights into the unique opportunities in emerging markets, including the impact of political risks and how global trends like de-globalization are shaping investment opportunities.   Sid also delves into specific extension strategies, including buy-and-hold approaches, crossover investments, and thematic strategies designed to capitalize on long-term trends. He highlights how insurance investors can strategically diversify their portfolios while balancing risk and return, particularly in the underappreciated areas of EM corporate debt. If you’re looking to expand your understanding of EM debt and its role in insurance asset management, this is a must-listen episode.

    28 min

  8. SEP 17

    Episode 242: Uncovering value in investment grade private credit

    In this episode of the InsuranceAUM.com Podcast, Stewart Foley is joined by Michael Zorich, Managing Director and Head of Investment Grade (IG) Private Credit at Principal Asset Management, for an in-depth discussion on the growing relevance of investment grade private credit in today’s market. Michael shares his expertise on how IG private credit offers investors a combination of relative value, covenants, better recoveries, and diversification, making it an attractive asset class for insurance companies and institutional investors. He explains how current economic conditions, particularly rising interest rates, have led to increased attention on the sector, especially as investors seek risk-adjusted returns in less volatile spaces compared to other areas like direct lending.   Michael also discusses the evolution of private credit markets, the role of club deals, and the various sectors, such as infrastructure and real estate, that present opportunities and risks. As an experienced leader at Principal, he highlights the firm’s 50-year history in private placements, their focus on infrastructure investments, and the extensive customizations they offer to meet client needs. This episode provides valuable insights into how insurance investors can uncover value in IG private credit while navigating today’s complex economic landscape.

    23 min
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Ratings & Reviews

4.8
out of 5
26 Ratings

About

Tune in to the InsuranceAUM.com Podcast, hosted by our Managing Partner, Stewart Foley, CFA. Our podcast features insightful conversations with CIOs, asset managers, and other distinguished professionals in the insurance asset management industry. Each episode delves into the latest trends, challenges, and opportunities, providing listeners with valuable perspectives and practical advice. Don’t miss out on these engaging discussions that are essential for insurance investors and asset managers.

Information

  • Creator
    Stewart Foley
  • Years Active
    2020 - 2024
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    © Copyright 2020 All rights reserved.
  • Show Website
    InsuranceAUM.com

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