EVENT Nov. 3-6, 2019: American Council of Life Insurers Schedules Senior Investment Managers Seminar

WASHINGTON, Sept. 27 -- The American Council of Life Insurers will host its Senior Investment Managers Seminar at the Loews Bay Resort, Coronado, California, Nov. 3-6:

Agenda and speakers include:

Fixed Income Outlook: This session will feature perspective on positioning life insurance company portfolios in the current environment of low growth, low yields and an aging business cycle. As well, it will offer insight into rating agency perspective on the risks within insurance company investment portfolios.

Moderator: Mark Sandbulte, ACLI SIMS Program Chair and Portfolio Strategy Vice President, FBL Financial Group

Speakers: Peter Gailliot, Managing Director, Head of US Fixed Income for Financial Institutions Group, BlackRock; Carmi Margalit, Analytical Manager & Senior Director, S&P Global Ratings; Anne Walsh, Chief Investment Officer-Fixed Income, Guggenheim Partners Investment Management LLC

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Infrastructure

Moderator: Paul David, Director, Portfolio Manager Head of Americas, Infrastructure Debt, Allianz Global Investors

Speakers: Pradeep Killamsetty, Managing Director, Power and Infrastructure Group, John Hancock Financial Services; William Pappas, Managing Director, Prudential Private Capital

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Private Placements

This panel discussion of investment managers will discuss allocation to private placements, review process, role of investment bankers, use of rating agencies, interaction with NAIC SVO, etc.

Moderator: Amy Judd, Director of Private Placements, AllianceBernstein

Speakers: Jeff Fossell, Vice President, Head of Investment Operations, American Equity Investment Life Insurance Co.; Ho Young Lee, Managing Director, Private Placements, Nuveen

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High Yield, Leveraged Loans and CLOs

Moderator: Mike Huff, Director, Portfolio Management & Asset Allocation, TIAA- CREF Life Insurance Company of New York

Speakers: John Bailey, Head of Leveraged Loans, Portfolio Manager, Aegon Asset Management; Lauren Basmadjian, Senior Portfolio Manager, Octagon Credit Investors; Michael Odell, High Yield Portfolio Manager, AIG Global Asset Mgmt. Holdings Corp.

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Economic Outlook

This session will provide a current economic outlook including a discussion on the recession and the Federal Reserve's monetary policy.

Speaker: David Zervos, Chief Market Strategist, Jefferies LLC and Chief Investment Officer of the Global Macro Division, Jefferies Investment Advisers LLC

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Building a Capital (RBC) Efficient Portfolio

This session will discuss the calculation of capital-adjusted returns as well as a proposal to obtain relief from RBC treatment of long horizon equities.

Speakers: Jared Klyman, Head of Insurance Strategy, Goldman Sachs; Mark Prindiville, Chief Risk Officer, Allstate Investments LLC

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ESG

Speakers: Paul English, Sr. Analyst, Head of US Investment Grade Research, Invesco Fixed Income; Sarah Bratton Hughes, Investment Director - Sustainability, Americas, Schroders

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CECL

Speaker: Brittany Williams, Manager, Accounting Policy, Voya Financial

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Asset Allocation Trends

Moderator: Mary Pat Campbell, Vice President, Insurance Research & Consulting, Conning

Speakers: Lisa Baudot, Senior Vice President, Securities, Pan-American Life Insurance Co.; Daniel Flesch, Director, Real Estate, Portfolio Services, Northwestern Mutual Real Estate Investments LLC

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Chief Investment Officers Panel

Moderator: Tod Nasser, ACLI Life Insurance Investments Committee Chair and Senior Vice President, Investments, Pacific Life Insurance Co.

Speakers: Charlie Happel, Chief Investment Officer, FBL Financial Group Inc.; Scott Hibbs, Vice President & Chief Investment Officer, Standard Insurance Co.

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ALM Modeling- Portfolio Construction: Collaboration between Portfolio

Manager and Actuary Due to statutory cash flow testing requirement, Life insurance companies typically follow an Asset Liability Matching (ALM) approach for asset allocation. In this session, we will share a process of how portfolio manager works with actuary to construct and optimize asset portfolio to support the product liability. A case study will be presented to compare and contrast different ALM practices, such as cash flow matching, key rate duration matching and overall duration matching, and their trade-offs. Trade-off considerations such as yield expectation, duration, default, liquidity and convexity will be addressed with numeric examples.

Moderator: Mark Abbott, Managing Director, Head of Analytics & Reporting, Guardian Life Insurance Company of America

Speakers: Daniel Stier, Managing Director, Portfolio Manager, Northwestern Mutual; Mark Yu, Enterprise Capital Return & Risk Management, New England Asset Management

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For more information: https://www.acli.com/Events/All-Events/SIMS-2019

For agenda: https://www.acli.com/-/media/ACLI/Files/Events/SIMS2019/SIMS19_Program.ashx?la=en