After I published my post on pension risk transfer (PRT) in late August on LinkedIn, Mr. Christopher B. Tobe posted a link to his paper in the comment area of my post. In his paper, Mr. Tobe made some strong…
Most traditional US corporate DB plans have seen double digit funded ratio improvements over the past several years, as a result of consecutive years of strong equity market performance ( S&P 500) and the rise in pension discount rates (FTSE…
The implications of AG55 (and VM22) on the reinsurance market On July 14, 2025, along with the voting of VM22 (NAIC Valuation Manual 22) on asset cash flow testing for non-variable annuity lines of products, the Life and Annuity Committee…
I have been asked about what ALM or actuarial tools I used during my 30 years of career in insurance asset management. Well, the real answer goes back further than 30 years. My father’s abacus is the very first actuarial…
It has been a pleasure collaborating with Steve and BCP Penbridge on this important topic of pension de-risking and PRT. To echo Steve’s note, independent perspective, free of vested interest is critically important in rendering objective opinions. As discussed in the…
In a January 4th Wall Street Journal article “private equity’s move into insurance provokes systemic-risk concerns,” It stated that the Treasury and IMF says those investments warrant greater monitoring for possible threat to the financial system, and the Fed says…
Managing assets for insurers is a very profitable business. Assets managed on behalf of insurance clients are often referred as “sticky money.” It is also a business with high barriers to entry. Blindly getting into insurance asset management could expose…
I’m happy to share that I’m starting a new position as Founder and CEO at Coastal Square Asset Allocation (CSAA) Consulting, LLC! CSAA Consulting aims to provide unique and differentiated asset allocation advisory services to asset managers managing assets on…
For those in the Boston metro area who just experienced several consecutive major snowstorms of 2024, the day after could be a day with a magnificent view only seen in the movies, or an agonizing wait for the power company…
