The Retirement Market Attracts New Entrants - Alternative Capital Moves In


Michael Warner
Conning, Inc.

Conning—Alternative Capital in the Retirement Markets: A New Road Map to Follow?

(Hartford, CT) June 19, 2014—The life-annuity industry has been responding to the entrance of alternative capital in the form of investment firms acquiring annuity businesses over the past few years, according to a new study by Conning.

“We have seen the retirement industry reshaped by asset manager purchases of annuity players over the past few years,” said Scott Hawkins, analyst at Conning. “As many traditional life insurers looked to exit annuity businesses following the financial crisis, these alternative capital players have been making big bets by acquiring those assets. In our research, we sought to understand whether these firms see something in the retirement market that others have missed, or whether perhaps they expect to benefit from structural differences between their model and traditional life insurers.”

The Conning study, “The Retirement Market Attracts New Entrants: Alternative Capital Moves In,” recaps and analyzes the market moves of the key alternative market players and their performance to date, and explores some possible strategies that may be driving this change. Further, the study provides profiles of the alternative capital players and their development to date.

“While it is early days yet for the alternative capital players, our analysis indicates some intriguing performance differences from traditional players,” said Steve Webersen, director of research at Conning. “Insurers, other asset managers, and regulators have taken notice, and as they think about the competitive advantages that alternative capital may have in the market, they also must consider the strategies and timeframe of these players. Our analysis points to a number of factors, both long-term and short-term, that may affect the ability of alternative capital to progress further in entering the retirement market.”

“The Retirement Market Attracts New Entrants: Alternative Capital Moves In” is available for purchase from Conning by calling (888) 707-1177 or by visiting the company’s web site at

About Conning

Conning ( is a leading investment management company for the global insurance industry, with more than $85 billion in assets under management as of March 31, 2014 through Conning, Inc., Conning Asset Management Limited, Cathay Conning Asset Management Limited, and Goodwin Capital Advisers, Inc. The company's unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through customized business and investment strategies. Founded in 1912, Conning is focused on the future, providing clients with innovative solutions, leveraging its global capabilities, investment experience, and proprietary research. The company is headquartered in Hartford, Connecticut, with additional offices in Purchase, London, Cologne, and Hong Kong.