Articles by Nathan Tipping
IAIS flags concerns about offshore reinsurance growth
Insurers passing risk to foreign firms makes regulation harder, report says
Decarbonising passive funds costs next to nothing – research
Low-carbon versions of index trackers face negligible return drag, paper suggests
How US insurers went to war over CLOs
Mutuals and private equity-backed rivals clash over determination of capital charges
Buy side reflects on BoE’s gilt liquidity lifeline
Lending facility could prevent repeat of last year’s LDI crisis if properly designed, pension and insurance experts say
Investors uneasy as cov-lite terms endure
‘Loosey-goosey’ lending remains dominant despite a tougher environment for borrowers
Big pension schemes are pushing back on private market fees
Schemes offer evergreen investment and cut managers to secure improved terms
LDI crisis could ‘certainly happen again’, pensions experts say
Wave of issuance and a shrinking buyer base likely to spur further volatility in gilts
UK pensions mull discount rate switch after LDI crisis
Large schemes rethink liability calculations as illiquid allocations balloon following ‘mini-budget’
Equitable lobbies for concentration charge on riskier ABS
“Ultra-high correlation of losses” between lower-rated tranches requires new regulation, insurer says
Asset managers offer tailored LDI to smaller pension schemes
Minimum AUM for customised hedging slashed from around £400m to £75m
‘Restricted lists’ on private-equity backed loans irk investors
Privately owned companies are limiting who can buy their debt, hampering liquidity
Iosco warns of leveraged loan ‘vulnerabilities’
As recovery rates plummet, report calls for clearer covenants and more transparency on addbacks
BlackRock plans use of corporate bond repo in new LDI fund
Holding corporate bonds would provide backup liquidity, lift returns
CLO managers tap captive capital for ‘uneconomical’ deals
Funds raised to comply with overturned risk-retention rule underpin 80% of new deals
NAIC proposal sees insurers snub debt rated by smaller agencies
Ability of some corporates to raise capital ‘materially impaired’, bankers say
Creaky credit sparks ‘high’ dispersion in CLO pricing
Investors are becoming more particular when it comes to tranches and managers
An NAIC plan to second-guess bond ratings is ‘nonsensical’, insurers say
Proposal to create “quasi rating agency” at regulatory body sparks backlash from industry and US Congress
A CLO ‘grab’ for short-dated loans is buoying prices
Demand increases as record CLO numbers wind down reinvestments
T+1 in the US to push ETF spreads wider
Settlement mismatch expected to raise creation and redemption costs
Scarce supply may explain junk bonds’ ‘extreme’ mispricing
Spreads are at odds with historic norms, leaving investors asking why
FCA should regulate pension consultants – UK MPs
Gilt crisis report says firms offered “standardised advice” poorly tailored to pension schemes’ needs
People: Barclays’ equity hires, CA’s CVA head departs, and more
Latest job changes across the industry
US insurers face 15% capital hike for CLO equity next year
Insurance regulator agrees ‘compromise’ solution to delay increase until 2024
Crédit Agricole’s XVA head departs
Laurent Chédin is leaving the banking sector; Mickael Crabos takes his place