2023 AIF Insurance Investors' Forum and Symposium
June 6–7 | Harvard Club | New York City
The agenda and participants from the 2023 AIF Insurance Investors’ Forum and 2023 AIF Institute Center for Insurance Investing Spring Symposium are listed below.
Agenda at a Glance
AIF Institute Center for Insurance Investing (CII) Symposium
Tuesday, June 6, 2023
(OPEN ONLY TO INVESTORS, CONSULTANTS AND CII FACULTY)
9:00–9:50 a.m.
Registration
9:50–10:00 a.m.
Welcome and Opening Remarks
10:00–11:00 a.m.
Developments in Risk Based Capital (RBC) Efficient Structuring
This session will discuss structures that meet NAIC and other regulatory and rating agency guidelines and requirements and that help insurance investors reach their investment objectives.
Session Leader:
- Jeremy King, Managing Director, Insight Investment
Session Participants:
- Sara Africano, Counsel, Sidley Austin LLP
- Andrew Holland, Partner, Sidley Austin LLP
- Michael Pagano, Partner, Apollo Global Management
- Richard Talmadge, Portfolio Manager – Investment Management, Insight Investment
- Bob Turner, Director, Group 1001
- Zirong Zhang, VP, Investment Strategy, Lincoln Financial Group
11:00–11:15 a.m.
Break
11:15 a.m.–12:15 p.m.
Insurance Regulatory Landscape (with session participants joining via remote live stream)
This panel will feature a discussion with influential state insurance regulators about salient NAIC policy discussions and concerns affecting insurance companies’ investments.
Session Leader:
- Ed Toy, Director, Risk & Regulatory Consulting
Session Participants:
- Tom Botsko, Ohio Insurance Department, Chair of Capital Adequacy Task Force and the P&C RBC Working Group (Joining Remotely)
- Carrie Mears, Chief Investment Specialist, Iowa Insurance Division (Joining Remotely)
12:15–2:15 p.m.
Luncheon Presentation, Polling and Group Discussions
This session will consist of (i) an unstructured luncheon, which will be followed by (ii) a review of the key takeaways from, and real time polling and group discussions about, the 2023 Goldman Sachs Insurance Asset Management Insurance Survey and, finally, (iii) discussions about the agenda for the second 2023 Center Symposium and the Center’s near and longer term objectives.
Session Leaders:
- Matt Armas, Global Head of GSAM Insurance Asset Management, Goldman Sachs Asset Management
- Mike Siegel, Global Head of Insurance Asset Management and Liquidity Solutions, Goldman Sachs Asset Management
2:00 – 2:15 p.m.
What’s Next for the Center for Insurance Investing: the Agenda for the Second 2023 Symposium and Defining Near and Longer Term Objectives
The Center’s Faculty Member Firms and AIF Insurance Investor Board Members will facilitate a discussion about the Center’s near and longer term objectives and the best agenda for its second 2023 Symposium, which will be held on October 5 in New York City.
2:30–3:30 p.m.
The Shifting Financial Markets: Repositioning Investment Portfolios for the Present and Future
This session will feature a discussion about how the shifting macroeconomic landscape, including rapidly rising interest rates, inflation, geopolitical instability, and deglobalization, is impacting portfolio construction, changing the structures and roles of investment teams, driving M&A activity, and causing insurance company investors and their asset managers to reposition their portfolios.
Session Leaders:
- Peter Gailliot, Managing Director, Global CIO of the Financial Institutions Group FIG, Head of Fixed Income FIG Portfolio Management, BlackRock
- Gary Zhu, CFA, Director—Insurance Portfolio Management; Global Head—Multi-Sector Insurance, AllianceBernstein
Session Participants:
- William Bell, CIO, Alternatives, Arch Capital Group Ltd.
- James Burritt, SVP – Deputy CIO Private Investments, Pacific Life
- Martha Leiper, CIO, Unum Group
3:30–4:00 p.m.
Break
4:00–5:00 p.m.
The Intersection of Investing and Risk Management
Insurance companies’ investment programs are highly liability driven. This session will explore how risk and return are evaluated across asset classes by insurance companies and whether they receive an appropriate return on their invested capital based upon expected risk. It will examine investment strategies such as LDI/ALM and how they interact with risk management and efficient capital management. It will review the metrics used to measure risk, the time horizon over which risk is measured, and how various risks are prioritized in the investment decision-making process.
Session Leaders:
- Mike Huff, Managing Director – Head of Asset Allocation & Derivatives, TIAA
- Owais Rana, Head of Investment Solutions Business, Principal Asset Management
- Stephen Smith, Head of Insurance Analytics & Institutional Solutions, Neuberger Berman
5:00–6:00 p.m.
Reception
6:00–8:30 p.m.
Keynote Dinner Fireside Chat
- Eric Partlan, CIO, MassMutual
- Marc Rowan, Co-Founder and CEO, Apollo Global Management
AIF Insurance Investors’ Forum
Wednesday, June 7, 2023
(OPEN TO ALL REGISTERED ATTENDEES)
8:00–8:45 a.m.
Registration and Continental Breakfast
8:45–9:00 a.m.
Welcome Remarks and Brief Insurance Center Symposium Recap
9:00–10:00 a.m.
Private Equity Roundtable
Session Leader:
- Matthew Coyne, Managing Director, Portfolio Advisory, Aksia
Session Participants:
- Chris Crampton, Managing Director, Blue Owl Capital
- Ben Goldberg, Vice President, Aflac Global Investments
- David Marcus, Managing Director, Flexstone Partners
10:15–11:15 a.m.
Real Estate Roundtable
Session Leader:
- Dev Subhash, Partner, StepStone Real Estate
Session Participants:
- Ravi Anand, Head of Private Real Estate Debt – Americas, PIMCO
- Greg Dineen, Partner, Chief Credit Officer, Torchlight Investors
- Jeffrey Mudrick, Senior Managing Director, Structured Investments, Credit Strategy Team, Rockwood Capital
- Chris Tokarski, CEO, ACORE Capital
- Matthew Weinstein, Partner, Axonic Capital
11:30 a.m.–12:20 p.m.
Private Credit Roundtable I: Core Strategies
Session Leader:
- Neil Holmes, Director, Insurance, bfinance
Session Participants:
- Akhil Bansal, Managing Director and Head of Credit Strategic Solutions, Carlyle
- Derek Dubois, Managing Director, Treasurer, Deerpath Capital Management
- Karen Halliday, Partner, Varagon Capital Partners
- Nick Smith, Investment Professional, Nationwide
- Scott Yedid, Head of Residential Structured Products, Cerberus Capital Management
12:20–1:45 p.m.
Luncheon - Including Deep Dive Session and Breakout Groups Led by Insurance Center Faculty Member Firms
1:45–2:40 p.m.
Private Credit Roundtable II: Core Plus Strategies
Session Leader:
- Sean Crawford, Partner, Albourne
Session Participants:
- Chris Mellia, Co-Head of Asset-Backed Finance, KKR
- Seth Painter, Managing Director, Structured Products, Antares Capital
- Jeffrey Reemer, Sr. Client Portfolio Manager, Global Private Credit, Invesco
- Michael Timms, Investment Director, 17Capital
3:00–3:50 p.m.
Private Credit III: Value-Added & Opportunistic Strategies
Session Leader:
- Rahul Desai, Senior Portfolio Advisor, Aksia
Session Participants:
- Andrew Carter, Head of Credit Secondaries, J.P. Morgan Asset Management
- Stephen Catera, Managing Director and Co-Head of Credit Opportunities & Capital Markets, Siris Capital
- Alex Cha, Partner, Head of Portfolio Management and Trading, 400 Capital Management
- Jason Friedman, Partner, Global Head of Strategy, Marathon Asset Management
- Michael Haynes, Portfolio Manager, Head of Special Situations & Private Credit, Beach Point Capital
- Leslie Vargas, Senior Portfolio Manager, Resolution Life
- David Weber, Portfolio Manager, Hartford Investment Management Co. (HIMCO)
4:00–5:00 p.m.
Infrastructure Roundtable
Session Leader:
- JingLin Huang, Director, Private Market Investments, Segal Marco Advisors
Session Participants:
- Brent Canada, Partner, Infrastructure Debt, Ares Management
- Dan Foley, Senior Director, Portfolio Manager, CBRE Investments
- Jason Koenig, Managing Partner, ITE Management
- Mina Pacheco Nazemi, Head of Diversified Alternative Equity, Barings
- Matthew Wade, Executive Director, IFM Investors
5:00–6:30 p.m.
Closing Reception
2023 AIF Insurance Investing Symposium
and Insurance Investors' Forum Participant List
The investors and consultants below have confirmed their desire to participate (subject to any required internal approvals and final schedules)
Albourne
Sam Blouin, Portfolio Analyst
Sean Crawford, Partner
Arabella Wuchek, Business Development Manager
Aflac Global Investments
Benjamin Goldberg, Vice President
Jun Nomura, Assistant Vice President, Aflac Asset Management Japan
Tomoko Yano, Director, Aflac Asset Management Japan
Aksia
Patrick Adelsbach, Partner to the Consultant Board
Matthew Coyne, Managing Director, Portfolio Advisory
American Equity Investment Life
Ashok Vishnubhakta, Head of Middle Market
Arch Capital Group Ltd.
William Bell, CIO, Alternatives
Matthew Laermer, Managing Director
bfinance
Neil Holmes, Director – Insurance
Guy Hopgood, Director, US Client Consulting
Cambridge Associates
Richard Grimm, Managing Director, Private Credit
Corebridge Financial (fka AIG)
James Conklin, Head Public Equity and Absolute Return Strategies
DB Advisory America/ DB Insurance
Yong Park, Representative
Delaware Life, Group 1001
Bob Turner, Director
Equitable
Jennifer Lim, Director, Investments
Felix Lurye, Head of ALM, SAA, and ESG
GE Capital
Anthony Grandolfo, CIO
John Gao, Director, Investment Portfolio Management & Risk Analytics
GE Capital North American Life & Health
Sohaib Binshahid, Director, Investment Operations
Halie Gates, Investment Analyst
Bobby Hagedorn, Senior PM—Alternative Investments
Hartford Investment Management Co. (HIMCO)
David Weber, Portfolio Manager
Hyundai Marine & Fire Insurance
Kyu Nam Lee, Head of NY Office
Kuvare
Ira Kaplan, Managing Director
Ana Morales, Managing Director
Jing Shi, Vice President, Portfolio Management
Liberty Mutual Insurance
Won Jae Jung, Director
Lincoln Financial Group
Wen Nannen, Managing Director, Corporate Fixed Income
Zirong Zhang, VP, Investment Strategy
Eric Partlan, CIO
Karen Ye, Investment Consultant
Mark Hong, EVP / Chief Investment Officer
Nick Smith, Insurance Professional
Will Coffey, Consultant
Matthew Maleri, Senior Consultant
James Burritt, SVP – Deputy CIO Private Investments
Nick Cimino, Investment Director, Insurance Solutions
Evan Chan, Portfolio Manager
Yini Cui, Vice President
Leslie Vargas, Senior Portfolio Manager
Dev Subhash, Partner
Michael Long, Director, Asset Management
Mike Huff, Managing Director, Head of Asset Allocation & Derivatives
Martha Leiper, EVP, Chief Investment Officer
Karyn Williams, Regional Investment Manager North America