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height: auto;"></a> </div> <div id="mainWrapper"> <div id="mainLeft"> <div id="mainLeftMainStoryWide"> <a href="/iam/Transition-risk-losses-alone-unlikely-to-threaten-EU-financial-stability.php"><h1>Transition risk losses alone unlikely to threaten EU financial stability, climate stress test reveals</h1> <div id="mainLeftMainStoryWideImage" style="background-image:url(/iam/images/euroflag.jpg);"> <!-- WIP, optional <div id="mainLeftMainStoryWideImageHover"> <h4>Adam Cadle</h4> <h5>(21/03/2014)</h5> <a href="404.php"><h6 id="socialicoTwitter">L</h6></a> <a href="404.php"><h6 id="socialicoFacebook">F</h6></a> </div> --> </div> <div id="mainLeftMainStoryWideParagraphWrapper"> <p>Transition risk losses alone are unlikely to threaten EU financial stability, the latest climate scenario analysis conducted by the European Supervisory Authorities (ESAs) and the ECB has revealed</p> <div class="readMoreFadeOut readMoreFadeOutMainStory"><a href="/iam/Transition-risk-losses-alone-unlikely-to-threaten-EU-financial-stability.php"><h6>Read more...</h6></a></div> </div> </div> <!-- --> <!-- temporary for Ian, showing both styles/widths --> <!-- <div id="mainLeftMainStoryThin" style="margin-top:15px;"> <a href="article.php"><h1>Also shorter title test</h1> <img src="http://media.patheos.com/Images/EVPT/EVPT_FaithfulPolitics_1.jpg"></a> <div id="mainLeftMainStoryThinParagraphWrapper"> <p>Shadow pensions minister Gregg McClymont has questioned Minister for Pensions Steve Webb's defined ambition proposals following the Budget announcement this week. Chancellor George Osborne announced that from next April DC savers will be able to draw their pensions from age 55 by drawing it as a lump sum or using an income drawdown arrangement regardless of the size of their pot. Speaking in the House of Commons yesterday, McClymont said the Minister has made "great play" of his defined ambition agenda but questioned how one can develop such a collective pensions system when they depend on intergenerational risk-sharing.</p> <div class="readMoreFadeOut readMoreFadeOutMainStory"><a href="article.php"><h6>Read more...</h6></a></div> </div> </div> --> <!-- end of temporary block --> <!-- --> <!--<div class="mainLeftDivider"></div> <div id="adbanner3"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://insuranceassetmanagement.net/iam/pricing.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/728x90_InsuranceAssetManagementClub_join_mpu.gif" border="0""></a></div> --> <div class="mainLeftDivider" name="example-anchor" id="example-anchor"></div> <div id="adbannerwrapjs"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://insuranceassetmanagement.net/summit/"><img 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href="/iam/manulife-and-rga-announce-new-5-4-bn-reinsurance-agreement.php"><h6>Read more...</h6></a></div> </div> <div class="mainLeftOtherStory mainLeftOtherStoryRight"> <a href="/iam/LG-achieves-record-year-in-US-PRT-business.php"><h1>L&G achieves record year in US PRT business</h1></a> <p>L&G has completed $2.2bn of US PRT business in the year to date, representing its largest year ever</p> <div class="readMoreFadeOut"><a href="/iam/LG-achieves-record-year-in-US-PRT-business.php"><h6>Read more...</h6></a></div> </div> <!--<div class="mainLeftDivider"></div> <div id="adbanner4"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://www.pensionsage.com/awards/booking_form.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/728x90__MPU_animated-pa-awards-1123.gif" border="0""></a></div> --> <div class="mainLeftDivider"></div> <div id="mainLeftOtherStories"> <div id="mainLeftOtherStoriesBanner"><!--<a href="404.php">-->Other News 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href="/iam/European-insurers-ratings-safe-from-EIOPA-fossil-surcharges-Fitch-says.php"><h3></h3></a> </div> <div class="mainLeftOtherStoriesStory"> <a href="/iam/south-korean-general-insurance-market-poised-for-steady-growth.php"><img src="img/arrow-box.gif"/><h1>South Korean general insurance market poised for ‘steady growth’</h1></a> <h2>South Korea’s general insurance industry is set to be worth $33.3bn in five years, new estimates from GlobalData have indicated</h2> <a href="/iam/south-korean-general-insurance-market-poised-for-steady-growth.php"><h3></h3></a> </div> <div id="mainLeftOtherStoriesBannerBottom"><a href="/iam/archive-news-list.php"><img src="img/arrow-box.gif">Click here for more news stories...</a></div> </div> <div class="mainLeftOtherStory mainLeftOtherStoryRight mainLeftOtherStoryShort"> <a href="/iam/EIOPA-stands-ready-to-address-challenges-and-drive-change-Hielkema.php"><h1>EIOPA ‘stands ready’ to address challenges and drive change – Hielkema</h1></a> <p>The European Insurance and Occupational Pensions Authority (EIOPA) “stands ready” to implement and enforce regulations where needed and to flag areas requiring further action that are not within its current mandate, according to EIOPA chairperson, Petra Hielkema</p> <div class="readMoreFadeOut"><a href="/iam/EIOPA-stands-ready-to-address-challenges-and-drive-change-Hielkema.php"><h6>Read more...</h6></a></div> </div> <!--<div class="mainLeftDivider"></div> <div id="adbanner4"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://www.moneyage.co.uk/assetmanagementawards/entry_form.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/WAMA25_ofe_728x900_animated.gif" border="0""></a></div> <div class="mainLeftDivider"></div> --> <!-- OLD homepage q&a video interview...'native' version a.k.a. not just image background w/ link <div id="mainLeftVideoScroll"> <div id="mainLeftVideoScrollBanner">Q&A Video Interview</div> <img src="img/video-arrow.gif" 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href="/iam/images/pictetsustainability.pdf"><h1><i style="color:red;padding-left:2px;" class="fa fa-chevron-circle-right" aria-hidden="true"></i> Sustainability stays strong in emerging debt markets</h1></a> <h2>In an otherwise ugly environment for bond issuers and investors, the future for emerging market debt looks unquestionably green</h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="https://insuranceassetmanagement.net/iam/ESG-opportunity.php"><h1><i style="color:red;padding-left:2px;" class="fa fa-chevron-circle-right" aria-hidden="true"></i> Time for insurers to embrace the ESG opportunity</h1></a> <h2>Sustainability is rapidly becoming a core focus in investment strategies and access to reliable data is key to putting money to work with the right fund managers</h2> <div class="readMoreFadeOut"></div> </div> <!-- <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> Real estate debt: how to target better outcomes from private debt investment</h1></a> <h2>Careful underwriting of real estate debt can provide downside protection for insurers’ portfolios as the market cycle turns, says M&G’s Real Estate Debt Finance director Duncan Batty</h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> --> </div> <div id="pictwo" style="border-style:dotted; border-width:0px; width:50%; height:90%;"> <div class="mainLeftOtherStorynf"> <a href="/iam/images/pictetcredit.pdf"><h1><i style="color:red;padding-left:2px;" class="fa fa-chevron-circle-right" aria-hidden="true"></i> Bond investors need to understand the volatility cycle</h1></a> <h2>Fixed income markets have become increasingly volatile, a trend that looks set to continue. Investors need to adapt themselves</h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="https://insuranceassetmanagement.net/iam/strategic-credit.php"><h1><i style="color:red;padding-left:2px;" class="fa fa-chevron-circle-right" aria-hidden="true"></i> Strategic Credit: a nimble approach for an uncertain world</h1></a> <h2>What are the advantages of active credit allocation in portfolios now that government bonds no longer serve their traditional purpose?</h2> <div class="readMoreFadeOut"></div> </div> <!-- <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> Chinese onshore bonds - worth considering for your insurance assets?</h1></a> <h2>The context behind the Chinese domestic bond market and why Pictet Asset Management believes this market offers insurance companies superior investment opportunities</h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> <div class="mainLeftOtherStorynf"> <a href="/iam/images/"><h1><img src="img/arrow-box.gif"/> </h1></a> <h2></h2> <div class="readMoreFadeOut"></div> </div> --> </div> </div> <div id="mainLeftLatestFeaturesBannerBottom"><a href="/iam/archive_features.php" target="_blank"><i style="color:white;padding-left:2px;" class="fa fa-long-arrow-right" aria-hidden="true"></i> Click here for more news features...</a></div> <BR> <div class="mainLeftDivider"></div> <div id="adbannerwrapjs"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://www.pensionsage.com/awards/booking_form.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/728x90__MPU_animated-pa-awards-1123.gif" border="0""></a></div> <div class="mainLeftDivider"></div> <div id="adbannerwrapjs"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://www.moneyage.co.uk/assetmanagementawards/entry_form.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/WAMA25_ofe_728x900_animated.gif" border="0""></a></div> <div class="mainLeftDivider"></div> <div id="adbannerwrapjs"><a href="https://www.insuranceassetmanagement.net/iam/link.php?url= https://moneyage.co.uk/mortgageawards/booking_form.php"><img src="https://www.insuranceassetmanagement.net/iam/../../iam/images/MortgageAwards2025_BookYourTable_728x90.gif" border="0""></a></div> <div style="line-height:15px; height:15px; width:100%; clear:both;"></div> <div id="adbanner4"><a href=" "></a></div> <div style="line-height:15px; height:15px; width:100%; clear:both;"></div> <div id="adbanner4"><a href=" "></a></div> <div style="line-height:15px; height:15px; width:100%; clear:both;"></div> <div id="adbanner4"><a href=" "></a></div> <div style="line-height:15px; height:15px; width:100%; clear:both;"></div> </div> <!-- ir main center--> <div id="mainCenter"> <div class="jswrap4"><div class="jstitle4"><i style="color:#c50810;" class="fa fa-play-circle" aria-hidden="true"></i> Understanding Capital Solutions</div><div class="jswrap5"><video class="jsvideo4" poster="images/170X280VidInterviewHSBC.jpg" controls="" width="100%"><source src="jwplayer/HSBC-Interview-UnderstandingCapitalSolutions.mp4" type="video/mp4"><source src="/jwplayer/HSBC-Interview-UnderstandingCapitalSolutions.mp4" type="video/ogg"> Your browser does not support HTML5 video.</video></div><div class="jswrap6"><div class="jstext4">Adam Cadle talks to HSBC Asset Management’s head of capital solutions, Borja Azpilicueta, and head of insurance business, Deepak Seeburrun, about the firm’s capital solutions proposition.</div></div></div> <div style="width:100%; height:20px; line-height:20px;"> </div> <div class="jswrap4"><div class="jstitle4"><i style="color:#c50810;" class="fa fa-play-circle" aria-hidden="true"></i> Navigating credit markets</div> <div class="jswrap5"><img style="width:100%;" src="/iam/images/IAM-Notitle-Pictet-Navigating-credit-markets.jpg"><audio controls=""><source src="/iam/podcast/pictetPodcast.mp3" type="audio/ogg"><source src="/iam/podcast/pictetPodcast.mp3" type="audio/mpeg">Your browser does not support the audio element.</audio></div> <div class="jswrap6"><div class="jstext4">Adam Cadle speaks to Jon Mawby, Head of Investment Grade Credit at Pictet Asset Management, about navigating the credit markets given yields have fallen to low levels over the past decades, whilst interest rate duration risk has continued to rise.</div></div></div> <div style="width:100%; height:20px; line-height:20px;"> </div> <div class="jswrap4"><div class="jstitle4"><i style="color:#c50810;" class="fa fa-play-circle" aria-hidden="true"></i> Opportunities in alternative fixed income</div> <div class="jswrap5"><img style="width:100%;" src="/iam/images/IAM-Aegon-Opportunities-in-alternative-fixed-income.jpg"><audio controls=""><source src="/iam/podcast/IAM_Aegon_podcast_November2021.mp3" type="audio/ogg"><source src="/iam/podcast/IAM_Aegon_podcast_November2021.mp3" type="audio/mpeg">Your browser does not support the audio element.</audio></div> <div class="jswrap6"><div class="jstext4">Adam Cadle speaks to Frank Meijer, Head of Alternative Fixed Income at Aegon Asset Management, about the key opportunities within the alternative fixed income space and how insurers can access these.</div></div></div> <div style="width:100%; height:20px; line-height:20px;"> </div> <div class="jswrap4"><div class="jstitle4"><i style="color:#c50810;" class="fa fa-play-circle" aria-hidden="true"></i> Why are government bonds so important when thinking about climate change?</div> <div class="jswrap5"><img style="width:100%;" src="/iam/images/IAM-Notitle-ArdeaInvestmentManagement.jpg"><audio controls=""><source src="/iam/podcast/ARDEAinvestmentManagement.mp3" type="audio/ogg"><source src="/iam/podcast/ARDEAinvestmentManagement.mp3" type="audio/mpeg">Your browser does not support the audio element.</audio></div> <div class="jswrap6"><div class="jstext4">Adam Cadle speaks to Dr Laura Ryan, Head of Research, Ardea Investment Management, about the importance of government bonds and climate change, and how the scope of impact and potential for change couldn't be greater</div></div></div> <div style="width:100%; height:20px; line-height:20px;"> </div> <a href="/iam/Muzinich-Public-Private-credit-roundtable" class="link-06c"></a> <p class="rightsmall"><div style="padding-top:0px;"><a href="https://insuranceassetmanagement.net/iam/images/Public-Private-Credit_Muzinich_Roundtable.pdf" target="_blank"><img src="/iam/images/300x300_IAM-roundtable-Muzinich_Summer2024.png" border="0" alt="BANNER" title="BANNER"></a></div></p> <div style="width:100%; height:20px; line-height:20px;"> </div> <div id="mainCenterMostReadTopBar" style="text-align: center;">Expert Views</div> <a href="https://insuranceassetmanagement.net/iam/images/IAM-advertorial_M&G.pdf"><div class="jswrap4"><div class="jstitle4" style="font-size: 18px;padding: 0 10px;">How can we rethink insurance investment to solve the complexity challenge?</div><div class="jswrap6"><div class="jstext4">The model of insurance investing has been upended since the financial crisis by a confluence of challenges. New assets, strategies and partnerships have the potential to help insurers cut through this complexity and deliver sustainable solutions </div></div></div></a> <div style="width:100%; height:20px; line-height:20px;"> </div> <div id="mainCenterMostReadTopBar" style="text-align: center;">Expert Views</div> <a href="https://insuranceassetmanagement.net/iam/images/M&G-advertorial_proof4_.pdf"><div class="jswrap4"><div class="jstitle4" style="font-size: 18px;padding: 0 10px;">New Rules, New opportunities: A return to European ABS for insurers?</div><div class="jswrap6"><div class="jstext4">At the height of the global financial crisis, insurance company investors withdrew from the securitised debt market and sold down their asset-backed securities (ABS) holdings. 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