InsuranceAUM.com

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA is joined by Shiloh Bates, CFA, Partner and Chief Investment Officer of Flat Rock Global, for a deep dive into collateralized loan obligations and their role in insurance portfolios. Shiloh explains how CLOs function as structured credit vehicles, the problems they solve in the private credit market, and how different tranches offer distinct risk-return profiles for investors. The conversation explores current market dynamics, including elevated default rates, spread behavior, and where Shiloh sees potential opportunities across CLO equity and junior debt. Shiloh also discusses underwriting discipline, diversification benefits, rated feeder structures, and how insurers can think about CLOs relative to direct loan exposure when constructing resilient, risk-aware portfolios.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA sits down with Noelle “Elle” Sisco, Managing Director, Portfolio Manager, and Lead Portfolio Strategist at First Eagle Napier Park, to discuss where structured credit can offer real value for insurance investors and where caution is warranted. Elle shares her background across public and private credit markets and explains how First Eagle Napier Park approaches alternative credit within a multi-strategy investment framework.   The conversation explores how insurers can evaluate structured credit through disciplined underwriting, with a focus on collateral analysis, liquidity management, and active portfolio positioning. Elle also addresses late-cycle dynamics, elevated idiosyncratic risk, emerging collateral types, and the importance of separating true underwriting skill from beta-driven returns when constructing resilient insurance portfolios.

In this episode of the InsuranceAUM.com Podcast, host Stewart Foley, CFA, is joined by Cindy Beaulieu, Chief Investment Officer of Conning North America, and Matt Reilly, Managing Director and Head of Insurance Solutions at Conning. Together, they explore the complex economic, policy, and portfolio construction themes shaping insurance investment strategies heading into 2026. With volatility receding and consumption staying strong, Conning sees cautious optimism grounded in fundamental, long-term portfolio planning.   The discussion covers key topics including the rising complexity of insurance portfolios, the expanding role of private assets, and the importance of core fixed income as a risk ballast. Cindy and Matt offer insight into how insurers are balancing liquidity needs, capital requirements, and regulatory scrutiny while adapting to a structurally different rate and policy environment. With real-world examples and a thoughtful look at long-term strategy, this episode provides valuable perspective for insurance investors navigating today’s market challenges.

Tobias Gummersbach, Enterprise Capital Strategist at New England Asset Management, joins the InsuranceAUM Podcast to discuss how insurers can apply stress and scenario testing to strengthen portfolio construction. With a focus on translating complex risks into clear, actionable insights, Tobias explains how these tools can help insurers evaluate exposure, guide asset allocation decisions, and support long-term capital planning.   The conversation covers how insurers can move beyond traditional risk measures to better understand the potential impact of severe but plausible events. Tobias shares practical examples of how scenario testing is being used in real-world investment strategy, helping firms assess trade-offs between risk and return, improve communication with stakeholders, and better align portfolios with enterprise risk objectives. This episode provides valuable insights for insurance investment professionals navigating an increasingly complex risk environment.

Infrastructure equity is no longer just about toll roads and utilities—it’s becoming a core part of insurance portfolio strategy. In this episode of the InsuranceAUM.com podcast, Gianluca Minella, Head of Research at InfraRed Capital Partners (a part of SLC Management), joins host Stewart Foley for a wide-ranging conversation on infrastructure’s growing relevance for insurers.   Drawing on findings from SLC Management’s recent global insurance survey, Gianluca shares insights into how insurers are allocating across core, core-plus, and value-add strategies. The discussion covers inflation protection, regulatory treatment, digitalization, decarbonization, valuation discipline, and infrastructure’s role as both a defensive and growth-oriented asset class.   Whether you’re focused on diversification, long-term returns, or navigating macro risks, this episode offers timely and practical insight into how infrastructure equity is being used by insurers to enhance portfolio resilience and performance.