Wellington Management

Insurance Asset Allocation Outlook: Take it “ease”-y

Insurance Quick Takes: US life insurers’ utilization of private placements

INSURANCE MULTI-ASSET OUTLOOK: Come on in, the water’s fine! Ready for a surplus summer

Loans from Federal Home Loan Banks: An opportunity for US insurers to enhance investment yield and total return

Insurance Quick Takes: One regulator's view of geopolitics’ impact on the industry

Insurance Quick Takes: What's next for CLO risk charges?

INSURANCE MULTI-ASSET OUTLOOK: Risky business: Is now the time for surplus action?

Insurance Quick Takes: IFRS S1 and S2: What's the impact to insurance investing?

2024 Insurance Outlook: Position portfolios for the unexpected

We appear to be in a world that’s very different from the post-GFC era, with more volatility, dispersion and unknowns. We could face structurally higher inflation, shorter and more volatile cycles, tight labor markets, and shifting supply chains. Central banks will contend with a wider range of circumstances and their policy responses will be more likely to diverge. In response, insurers managing investments may need to be nimble, dynamic, and forward looking.

Insurance Multi-Asset Outlook | Early 2024 resolutions: Enjoy the yield but be smart with your surplus

What should insurers expect from markets as we approach the end of the year? In our latest Insurance Multi-Asset Outlook, Tim Antonelli, Head of Insurance Multi-Asset Strategy and Portfolio Manager, offers his views and identifies areas that may be worth a closer look.

Insurance Quick Takes: A look at the future landscape of US insurance climate risk oversight

In Wellington Management’s Insurance Quick Takes series, Head of Insurance Multi-Asset Strategy Tim Antonelli aims to help insurers navigate key trends and events at the intersection of the insurance industry and capital markets. In this third episode, walks us through the main points of a recent report published by the Federal Insurance Office (FIO), and the importance and impact to US insurers and insurance climate risk oversight.

Insurance Quick Takes: Understanding the latest shifts in mortality and longevity

Tim discusses recent trends and patterns on mortality and longevity, why this topic is important for global insurers of all types and sizes today, and potential opportunities.

Insurance Multi-Asset Outlook | Core fixed income: Stop me if you’ve heard this one before

Head of Insurance Multi-Asset Strategy and Portfolio Manager Tim Antonelli provides his latest multi-asset views for insurers with an emphasis on the value of core fixed income in today's environment.

Loans from Federal Home Loan Banks: An opportunity for US insurers to enhance investment yield and total return

Learn why our Financial Reserves Management Group believes FHLB loans provide compelling potential for insurers to add alpha or increase yield by borrowing at low rates and benefitting from possible favorable treatment by ratings agencies.

Insurance Quick Takes: Unpacking potential impacts of newly proposed NAIC regulations

In our Insurance Quick Takes, Head of Insurance Multi-Asset Strategy Tim Antonelli aims to help insurers navigate key trends and events at the intersection of the insurance industry and capital markets. In this first edition, Tim analyzes the potential impacts for US insurers of a recent proposal that could allow the NAIC's security valuation office to override ratings of investments.

FHLB ties to SVB and Signature Bank - What is the impact to insurers who borrow?

The Federal Home Loan Bank (FHLB), originally established to support mortgage finances, is today also a source of lending and/or liquidity for many insurers. In the wake of the recent regional banking turmoil, the 11 government-backed home-loan banks have come under scrutiny as SVB and Signature Bank borrowed billions from FHLB to plug shortfalls before collapsing.

Insurance Multi-Asset Outlook: Today’s sweet spot for yield, the growing role of alts

Insurance Strategist and Portfolio Manager Tim Antonelli provides his latest multi-asset views for insurers, with an emphasis on opportunities in alternatives and on core fixed income for portfolio ballast and potentially attractive risk-adjusted yields.

Commercial real estate: Seeking shelter from the storm

Tough times have gotten even tougher for the commercial real estate (CRE) sector over the past month or so, starting with the well-publicized failure of Silicon Valley Bank (SVB) on March 10, 2023 — but not all areas of CRE are equally vulnerable to today’s stresses, so finding potential investment opportunities is all about knowing where to look.

Measuring Liquidity of your Bond Portfolio; It can be done!

The events of the past two weeks have quickly fostered memories of the Spring of 2009, the collapse of Lehman and unprecedented action in fixed income markets. Secondary market liquidity conditions have deteriorated significantly across fixed income sectors following concerns about the health of the banking sector. While actions by regulators have helped to restore public confidence, this banking sector shake-up remains fluid, with the outcome still very uncertain. Bid/offer spreads have widened meaningfully, and it has become more challenging to source liquidity.

Multi-Asset Outlook — A rocky road to recovery in 2023

From a macro and market standpoint, the worst may be behind us, but we think it’s too early to wave the all-clear flag for risk in 2023.

2023 Insurance Outlook: Resolve to solve with a restocked toolkit

Inflation, rates, and volatility. In today’s risk-laden environment, the best defense is a good offense. In this latest white paper from Wellington Management, Insurance Strategist and Portfolio Manager Tim Antonelli shares are our latest multi-asset views for insurers.

Insurance Multi-Asset Outlook | Inflation, rates, and volatility: The best defense is a good offense

Inflation, rates, and volatility. In today’s risk-laden environment, the best defense is a good offense. In this latest white paper from Wellington Management, Insurance Strategist and Portfolio Manager Tim Antonelli shares are our latest multi-asset views for insurers.

The road less traveled: An insurer’s path to investing in alternatives

In this new white paper from Wellington Management, Insurance Strategist and Portfolio Manager Tim Antonelli lays out a sturdy yet flexible framework to help global insurers navigate the alternative investments space.

Mid-year Insurance Multi-Asset Outlook — Insurers: Strengthen your core in the second half

Insurance Multi-Asset Strategist Tim Antonelli shares his latest insights and opportunities for global insurers, including his view that core fixed income holdings — US interest rates and investment-grade corporate bonds — should stack up well against most risk assets in the second half of 2022.

Insurance Multi-Asset Outlook — Higher inflation, rising rates: Front and center for insurers

With macro and market complications piling up through the first few months of 2022, Insurance Multi-Asset Strategist Tim Antonelli provides insights and investment implications for global insurers.

A US insurer’s roadmap for navigating the new RBC regs

With the NAIC’s latest revisions to risk-based capital (RBC) charges now on the books, what should US insurers be focused on moving forward? And how have the relative value propositions across fixed income assets and other investments changed as a result? Wellington Management’s Insurance Multi-Asset Strategist Tim Antonelli and Investment Specialist Geoff Austein-Miller share their views and insights.

2022 Insurance Outlook: Three transition year themes — inflation, capital, ESG

Wellington Management’s Insurance Multi-Asset Strategist Tim Antonelli believes 2022 could be a year of transition for the global insurance industry, with the three big themes of inflation, capital, and ESG likely to play prominent roles in many insurers’ strategic planning and decisions.

Insurance Multi-Asset Outlook —Strong but slowing growth: A tale of two narratives

Markets appear to be caught between two hard-to-reconcile narratives: The pace of economic growth looks poised to slow, but the level of growth is likely to stay relatively strong. Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook offer insights for global insurers at this point in the cycle.

The journey to net zero - An insurer’s guide to navigating climate risks and opportunities

This paper, a collaboration between Willis Towers Watson and Wellington Management, is intended to be a pragmatic guide for insurers and reinsurers as they steer their organizations on the journey to net zero.

Insurance Multi-Asset Outlook —The rising tide of inflation: Risks and opportunities for insurers

• COVID vaccination progress and ample policy support may warrant a more pro-risk investment stance going forward, but persistent inflation concerns continue to loom. Wellington Management’s Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook share insights to help insurers navigate these competing forces.

Insurance Multi-Asset Outlook — Rising rates: Threat or opportunity?

Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook argue that now may be an opportune time for insurers to adopt a more pro-risk stance, despite the potential headwind of rising rates.

Mapping the impact of climate change

In this three-minute video, we share the climate-exposure risk-analysis tool we have developed in partnership with Woodwell Climate Research Center. This software helps our investment teams track and assess physical climate risks facing capital-market assets around the world.

An insurer’s guide to fixed income: Setting the record straight on rates and credit

Investment Directors Abigail Babson, Amar Reganti, and Anand Dharan lay out their proposed framework for building a more resilient fixed income allocation that is equal to the challenges of today’s environment.

Clearing the air: Assessing climate transition risks in credit portfolios

As the world transitions to a low-carbon economy, investors need to prepare to manage attendant risks and opportunities in client portfolios. Members of our Fixed Income and Climate Research Teams share their approach to quantifying material climate transition risks and mitigating portfolio-level exposure.

Debunking four common myths about CLOs

Fixed Income Portfolio Manager Alyssa Irving sets the record straight regarding the risks and potential benefits of investing in collateralized loan obligations (CLOs).

A new inflationary regime: Why the next decade could look different from the last

We explore why the risk of structurally higher inflation may be the highest it has been in decades and profile the key investment implications this presents.

Insurance Multi-Asset Outlook — Is the market rotation the real deal or just a head-fake?

In their latest multi-asset outlook for insurers, Tim Antonelli and Danny Cook argue that a durable rotation from growth- to value-type equity exposures may be in the offing for 2021.

2021 Investment Outlook

We invite you to explore actionable insights and investment trends across all major asset classes curated from our marketplace of ideas — more than 800 investors strong.

Insurance insights: Research and investment ideas

A curated collection of insurance insights intended to aid insurers in analyzing market dislocations and opportunities.

The path forward for insurers

Multi-Asset Strategist Tim Antonelli offers four major themes and recommendations for insurers that have arisen from his scenario analysis, stress testing, and strategic asset allocation reviews during the past several months.

Are investors prepared for LIBOR’s demise?

The upcoming sunset of LIBOR will mark a significant change for fixed income markets. Our team explains why thoughtful planning and preparation will be critical to a successful transition for client portfolios.

Muni Market Climate Risk: Hidden Perils, Untapped Opportunities

• In our view, climate change represents an acknowledged, yet still underappreciated, risk in the municipal (muni) bond market, but also presents investment opportunities for active managers. • We believe this risk should become part of the “mosaic” for how institutional investors approach the asset class — ideally sooner rather than later. • For insurers, we believe having a diversified asset/liability mix, while very important, may not sufficiently mitigate potential portfolio losses related to climate risk.

Episode 197: Wellington Management’s 2024 Insurance Outlook

Tim Antonelli is the Managing Director, Insurance Multi-Asset Strategist, and Portfolio Manager at Wellington Management.

2023 Insurance Outlook with Wellington Management's Tim Antonelli

Welcome to another edition of the InsuranceAUM.com podcast. I'm joined today by Tim Antonelli, insurance strategist and portfolio manager, and managing director at Wellington.

Episode 87: Opportunities and challenges in the Asian insurance market

Join host Stewart Foley, CFA, on the InsuranceAUM.com Podcast as we discuss the opportunities and challenges in the rapidly evolving Asian insurance market, including regulation, private assets, and ESG trends.

Episode 75: A US insurer’s roadmap for navigating the new RBC regs – An interview with Wellington Management’s Tim Antonelli

Tim Antonelli is a Managing Director, Insurance Strategist, and Portfolio Manager at Wellington Management.

Episode 19: Do the Fundamental Things Apply with Wellington's Tim Antonelli

Join host Stewart Foley on the InsuranceAUM.com Podcast as we explore the impact of market liquidity risk, investment governance, and evolving asset allocation strategies for insurers in a post-COVID world.