These views and opinions are those of the authors at the time of writing, may be subject to change, are for informational purposes only, and they should not be construed as investment advice or a recommendation for the purchase or sale of securities by Conning. The information may not be current and Conning has no obligation to provide any updates or changes. Individual portfolio management teams for Conning may have views and opinions and/or make investment decisions that, in certain instance, may not always be consistent with the views and opinions expressed therein. While any third-party data used is considered reliable, its accuracy is not guaranteed.

Tax Cuts, AMT and Munis: Taxes and Municipal Bond Allocation for Property-Casualty Investors


The potential for lower tax rates under a new administration could have a significant impact on Property-Casualty (P/C) insurers' capacity for municipal bonds, and will certainly affect the tax-equivalent yield (TEY) (makes the yield on a tax-advantaged security comparable to a taxable) multiplier yield.

Liability Driven Investing for Insurance Companies


In this Q&A, Conning’s Head of Insurance Solutions provides insurers his insights on the use of liability driven investing, including investment strategies that insurers should consider.

Post-Election Pension De-Risking Strategy Considerations


Based on the pre-election rhetoric, there is little doubt that the president-elect, Donald Trump, is expected to employ a progrowth economic policy that may stimulate US growth and reduce unemployment.

Conning Releases Q4 2016 State of the States Report


Conning's State of the States U.S. municipal bond report shows that while state revenues have been on a steady climb since the 2008 recession, they are now showing signs of strain. 

Clapping With One Hand: Can Central Banks Overcome the Bad Policies of their Countries’ Political Leadership?


Since 2008, we at Conning have been saying that the weak economy is not a monetary problem, so it does not have a monetary solution. When a nation’s leadership promulgates poor regulatory, fiscal, and trade policies, it leaves the job of offsetting the effects on their citizens to the central banks. This lack of policy coordination is like a one- handed clap. Now, perhaps more than ever, a deep understanding of central bank policies is required to make global forecasts and informed investment decisions. Let’s examine a few of these effects and how we believe they are holding back growth.

NAIC Notes - Summer 2016


The Summer National Association of Insurance Commissioners (“NAIC”) meeting was held in San Diego from August 26th through the 29th. 

Conning Releases Q1 2016 State of the States Report


Conning’s latest  State of the States Municipal Credit Research report shows that while state revenues have been on a steady climb since the 2008 recession, they are now showing signs of strain. 

NAIC Notes - Spring 2016


The Spring National Association of Insurance Commissioners (“NAIC”) meeting was held in New Orleans from April 2nd – 5th. 

Risk Factors – A Better Way to Build a Portfolio?


Most investors, including insurance companies, construct their portfolios using the traditional asset classes of cash, fixed income, equities and tangible assets, broken down into subclasses such as corporate bonds and U.S. large cap stocks.

The American Shale Gas Revolution: Fundamental Winners and Losers


The U.S. Shale gas revolution in the U.S. is well underway, spawned over a decade ago by rising natural gas prices and advancements in drilling technology. Through the extensive use of horizontal drilling and the environmentally debated hydraulic fracturing (called fracking), which uses sand, water and chemicals essentially to create fissures in rock formations underground (down to 10,000 ft.), releasing and enhancing the flow of gas, the estimate of unproved reserves of shale gas in the U.S. have skyrocketed.