Insurance

The Hong Kong-headquartered firm, with $166bn under management, has appointed a former insurance CIO to what is understood to be a newly created role, Private Debt Investor has learned.

The US firm has hired an executive from JP Morgan, as insurers and other allocators continue to push into private credit, Private Debt Investor can reveal.

The deal, which will form a life and pensions giant with a £480bn-odd asset portfolio, reflects the trend for consolidation among both LPs and managers.

Talks between domestic and international regulators will begin in April and continue throughout the summer.

The UK insurer, formerly Phoenix Group, is also seeking a new CIO and has reported 8.6% year-on-year growth of its asset portfolio to £317bn.

Her departure from the Bermuda-based speciality insurance firm, which has a $6.9bn investment portfolio, follows its recent takeover by Japanese insurer Sompo.

The new joint venture between Dutch insurer Achmea and US private markets manager Sixth Street plans to increase and diversify its private credit exposure and is expanding its investment team.

The executive is moving on after some nine years with the Asian insurer, which has a $333bn asset portfolio, Private Debt Investor has learned.

Partnership to focus on hybrid, public/private and debt investing. Apollo sees strong growth in earnings from fees and spreads.

Effective 1 January, state insurance regulators will have more leeway to challenge credit ratings