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Insurance as an Asset Class

Insurance as an Asset Class

Thursday, November 29 | 6:00 – 8:00 PM
Followed by a Catered Networking Reception

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Institutions and Individuals looking to build a diversified portfolio of financial assets usually face the issue of high correlation. This has become an even more acute problem as financial markets have integrated around the world and technology has simplified the access to once arcane asset classes to the average investor.

One of the few asset classes that still remains largely independent from the correlation to financial markets is investment in insurance. Insurance policies valuations are largely based on the factors that directly affect each unique policy or group of policies.

In its first Insurance as an Asset Class event, CFANY has invited managers focused on investing in two large groups of insurance investments: Life Settlements and Catastrophe Insurance.

The Life Settlements business started with the AIDS crisis in the 1980s and quickly evolved into a very technical business where insurance policies were exchanged for cash based on estimations on people’s mortality. New investors (including Warren Buffet) brought valuation methods and capital to the industry, helping to turn it into an asset class in the last 15 years.

Catastrophe Insurance investing started based on the need for the Re-Insurance market to efficiently tap into additional capital to diversify the risk of large but uncertain insurance policies. The securitization of that re-insurance risk in a bond format draw demand from fixed income funds initially. As the number of issues increased, dedicated catastrophe investors surged, taking the risk as a bond or as a re-insurance policy. 

Our goal with this gathering is to enhance our knowledge of the asset class and understand the perspective of each of these practitioners in each of their sub-markets.

Learning Outcome Statements

  • Learn about the industry structure of the life settlement business
  • Learn about the industry structure of the catastrophe bond market
  • Learn about the history of insurance investing

Location

CFA Society New York
1540 Broadway – Suite 1010
45th St. Entrance

6:00 PM | REGISTRATION


6:30 PM | OPENING STATEMENT


6:35 PM | LIFE SETTLEMENT MARKET KEYNOTE

TBA


6:45 PM | PANEL 1: LIFE SETTLEMENT DISCUSSION

MODERATOR
Jim Pugliese, Chief Development Officer, RiverRock Funds

PANELISTS

Brian O’Grady, Managing Director, Marketing, Vida Capital


7:15 PM | CATASTROPHE INSURANCE AND RE-INSURANCE MARKET KEYNOTE 

Caleb Wong, Portfolio Manager, OppenheimerFund


7:25 PM | PANEL 2: CATASTROPHE INSURANCE AND RE-INSURANCE

MODERATOR
Peter J. DiFiore, Ph.D., CAIA, Managing Director, Neuberger Berman

PANELIST

Brian Weatherholz, Managing Director, Leadenhall Capital Partners

Eric Nelson, US Alternatives Director, Schroders

Caleb Wong, Portfolio Manager, OppenheimerFund


7:55 PM | CLOSING REMARKS


8:00 PM | NETWORKING & CATERED RECEPTION

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