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Sessions
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Monday, September 8
Economics and the U.S. Election
With a historic election on the horizon, which is likely to lead to dramatic change in current U.S. economic policies, investors need to be aware of the risks to their portfolios. Dr. Arthur B. Laffer will discuss some of the tax and trade policy ideas coming from the candidates and analyze them in a global economic context. Dr. Laffer’s presentation is sponsored by State Street Global Advisors.
Coping with the Future in a Time of Change
This presentation will discuss the similarities between current and historical stock market events. It will focus on inflation and deflation risk and compare today’s valuations to historical precedents. It will also identify sectors that look good and those that do not.
State of the Municipal Bond Market
The municipal market has experienced historic volatility that has reduced market participation, disrupted pricing mechanisms, called into question the integrity of ratings, pricing and insurance and restructured liquidity dynamics. This presentation will focus on the state of the municipal market, where it is heading, how it will impact liquidity, and the challenges associated with P&C companies to incorporate municipals into their portfolios.
Business Impacts of Regulation and the Reporting Systems on Insurance Company Portfolio Investments
This brief review of the serious impacts on insurance companies of implementing Fair Value Accounting includes discussion of the recent credit markets meltdown and the resulting earnings volatility and cost of capital. The new measures come at a time when investment professionals and CFOs are pressed to increase the yield of their portfolios, improve corporate earnings and make up for shortfalls on the underwriting profit in a soft market cycle.
Investing in Tax Credits
Investing in low-income housing tax credits is one of the safest investments you can make today while still achieving an attractive return on your investment. This session will provide a short overview of low-income housing tax credit programs and focus on what to consider when looking at making an investment. This is an interactive session with audience participation.
Utilizing Convertibles in the Asset Allocation Process
This session will provide an introduction to convertible securities, an asset class which can provide superior risk-adjusted returns.
Tuesday, September 9
U.S. Economic Update
With the U.S. economy barely growing and commodity prices reaching record levels, current events and trends will have significant economic impacts. This session will provide an overview of the most current factors affecting our economy.
Alternative Investments Mezzanine Loans
An introduction to investing in mezzanine debt securities will be presented. Included in the discussion will be an overview of the types of mezzanine investment opportunities, market participants, and a review of performance of the asset class.
Venture Capital/Growth Equity (VC/GE) Investment Opportunities
This session will help you determine if VC/GE makes sense for your portfolio? We will discuss trends in the VC/GE Industry, the key success factors for VC/GE firms, and how to access the best managers.
U.S. Insurers Peer Group Analysis
The presentation will focus on a property casualty industry “Peer Group Analysis” which covers a wide range of insurance investment factors. The Peer Group Analysis will reflect information from approximately the top 150 P&C companies in the U.S.
Wednesday, September 10
Insurer Investment Issues Panel
The panel will make brief presentations regarding relevant issues affecting insurer investment management from the perspective of an insurance company, a portfolio manager, and an outside auditor. A free flowing discussion period with the audience will follow the presentations.
NAIC/Regulatory Developments
This presentation will focus on the National Association of Insurance Commissioners and its Security Valuation Office, touch on other state and federal legislative and regulatory developments, and look to the future as U.S. and international accounting boards consider significant accounting changes for insurer assets and liabilities.
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