asset management News

Private Credit Is Top Choice for Insurers Managing $13 Trillion

For the first time, a fixed-income sector — private credit — topped the list of favored assets in Goldman Sachs Asset Management’s annual survey of global insurance companies. Of the 359 executives polled, 53% ranked private credit among the top …

Generali Completes Purchase of Conning and Affiliates From Cathay Life

Generali announced it has completed the acquisition of Conning Holdings Ltd. (CHL) and Conning affiliates from Cathay Life, a subsidiary of Taiwan’s Cathay Financial Holdings. The deal, which was first announced on July 6, 2023, has been structured as an …

Markets/Coverages: Mosaic Offers $25M in Liability Protection for Asset Managers

Mosaic Insurance, the Bermuda-based specialty insurer, has launched a suite of specialized financial institutions products, offering $25 million in investment management insurance (IMI), blended with cyber and other coverage for asset managers, funds, and associated directors. The global company’s new …

Shadow Banks, Such as Insurers, Hedge Funds, Could Be Sitting on Elevated Risk: ECB

The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB’s supervision arm told …

Moody’s Creates Private Credit Rating and Research Group

Ratings agency Moody’s is creating a unit to research and rate private credit, the firm said on Monday. The unit will be headed by Ana Arsov, who will coordinate research and rating initiatives in the field, Moody’s Investors Service said …

Libor Zombies Pit Hedge Funds Against Banks, Insurers in High-Stakes Feud

One of the most lucrative, and contentious, trades of 2023 has emerged in an obscure corner of financial markets, minting overnight profits for the hedge fund crowd of as much as 35%. The play: Load up on 1980s-era bank bonds …

China Allows Allianz to Launch Onshore Fund Management Company

China’s securities regulator on Thursday granted approval to Allianz Global Investors (Allianz GI) to set up an onshore fund management company as Beijing vowed to step up efforts to attract foreign companies amid sluggish economic growth. The asset manager, an …

AXA’s Asset Management Unit to Cut as Many as 90 Roles in Revamp

AXA Investment Managers is eliminating as many as 90 roles as the French firm aims to streamline part of the organization. The layoffs at AXA SA’s asset management arm, which had 2,600 employees at the end of 2022, will be …

Allianz Aims to Raise $1.6 Billion for Global Private Credit Fund

Allianz Global Investors, the insurance company’s money management division, is pushing ahead with plans to raise at least 1.5 billion euros ($1.63 billion) for a new global private credit fund, a spokesperson said, as investors boost exposure to the asset …

China’s Hidden Financial Dangers Erupt With Shadow Bank Crisis

Only a week ago, Zhongzhi Enterprise Group Co. attracted little notice within China and was almost unheard of everywhere else. Now, the secretive shadow banking giant has become the latest symbol of financial fragility in an $18 trillion economy where …