Longview Networks’ Insurance Investment Forum

With core IG spreads tight, index composition shifting and sovereign yields attractive but volatile, what is the right shape for the whole portfolio? Hear how insurers are weighing core credit against private assets that must work harder for their place, from levered gilts at no capital charge to a barbell of core IG and private spreads.

Step back from individual asset classes to consider diversification of income and risk across the portfolio in totality. As public assets migrate into the rated and unrated private universe, where are the hidden concentrations in the same hyperscaler and sponsor counterparties, and how are rates, inflation and spread assumptions shaping active management of the liquid book?

It is currently a lender’s market for AI and data centre financing, but for how long? Explore how digital infrastructure debt has moved beyond the early ABS structures into GPU financing, syndicated loans, project debt and unsecured corporate issuance.

Examine why deal structure can produce very different ratings for what looks like the same company, how transparent the leverage really is, whether financing has become circular, and how to model GPU obsolescence. Discover what it all means for portfolio concentration and the long-dated risks that have yet to crystallise.

Senior secured real estate debt now spans a wide sector mix, but which parts of the market are still performing? Explore why office, student accommodation and social housing are holding up while retail and big-box warehousing fall out of favour, and how real estate debt compares with asset-backed finance on risk, return, duration and liquidity.

Turn to residential and the lifetime mortgage back-book trade, now the biggest real estate story in the UK annuity market. How are annuity writers selling down and refinancing portfolios at scale, and what does it mean for matching adjustment-eligible notes?

Go under the hood of the CLO. Examine how the collateral pool, reinvestment period and tranche waterfall fit together, from equity up to AAA, and why rating agencies have been upgrading tranches as realised losses come in below modelled expectations.

Discover what the rise of mid-market private credit CLOs with solvency structuring changes for insurers. How does the Standard Formula charge move under the EU’s 2027 reform, what does matching adjustment eligibility require of CLO cash flows, and where does the Highly Predictable route help? Understand the look-through challenge for pooled CLO funds.

In a volatile and fragmented market, manager selection is a key driver of performance The structuring behind the CLO is now being applied to far larger and more complex pools. Hear how collateralised fund obligations, rated note feeders and multi-asset structured vehicles are being packaged as MA- and HP-eligible notes.

Explore what rated notes over private equity portfolios offer given exit and extension risk, and whether repackaging securitisations is storing up systemic risk.

• Matthew Smith – Global Head strategic Insurance group – Aberdeen
• Moritz Zander – Head of Investments – New Reinsurance Company Ltd
• Wim Vermier -CIO – AG Insurance
• Bob Tyley – Head of Insurance Investment & ALM – Hymans Robertson
• Andreas Vermeiren– senior consultant insurance solutions Europe – Mercer
• Ying Ye – CIO – Allianz UK
• Grisha Spivak – VP, Asset Strategy & ALM – Pacific Life Re
• Sumit Mehta- Head of Strategy – Legal and General