CORE INSURANCE

Kuvare Insurance Services Launches Third-Party Asset Management Business

Kuvare | February 08, 2022

Core News
Kuvare Insurance Services (KIS), a boutique asset manager that oversees approximately $19 billion in assets for various insurance operating companies owned by or affiliated with Kuvare US Holdings (Kuvare), today announced the launch of its third-party asset management business.

“Insurance investors continue to be motivated to search for yield against a backdrop that remains challenging. KIS has constructed bespoke private credit solutions in-house to augment Kuvare’s core fixed income assets, originating approximately $5 billion[1] in primarily investment grade private credit at attractive book yields vs. publicly-traded comparables,” 

- Brian Roelke, President and Chief Investment Officer

KIS now plans to extend its experience across private asset-backed and structured credit, private corporates, and commercial mortgage debt to non-affiliated insurance clients.

In conjunction with the launch, Roelke has recently added three key members to his executive leadership team. Ana Morales joins KIS as Managing Director, Head of Business Development and Product Strategy. She will be responsible for leading client relationships and advancing the growth of the KIS third-party asset management platform. Morales, who has 17 years of industry experience, joins from Goldman Sachs where she was a Managing Director, Senior Relationship Manager in the firm’s insurance asset management business. Prior to that, Morales built and led BlackRock’s exchange-traded funds insurance distribution team.

Joseph Orofino joins as Managing Director, Head of Investment Risk Management. He has over 20 years of industry experience, most recently at Further Global Capital Management where he was part of the executive team for two operating companies. Prior to that, Orofino led Aflac’s investment initiatives in non-core fixed income, alternatives, and public equities. He also held senior investment and risk management roles at Swiss Re.

Thomas Pasuit joins as Chief Legal Officer. Prior to joining KIS, Pasuit spent over 16 years at MetLife, most recently as Head of MetLife Investment Management’s Fixed Income and Alternatives legal team. He began his legal career at Connell Foley, LLP, where he specialized in bankruptcy and financial restructuring.

“The launch of the third-party asset management platform and these new appointments reflect our commitment to attracting an extraordinary team to support outstanding client service and portfolio performance. Our talent bench positions us to address the unique investment objectives of insurers and capitalize on market opportunities to drive portfolio alpha.”

- Dhiren Jhaveri, Kuvare founder and Chief Executive Officer,

About Kuvare Insurance Services (KIS)
Headquartered in New York City, KIS is a boutique asset management firm that specializes in building tailored solutions for insurance companies with the goal to deliver superior risk-adjusted returns. Led by a seasoned team of insurance industry investment professionals and asset class specialists, KIS oversees all investment activities for Kuvare’s operating companies. This represents approximately $19 billion in total assets as of December 31, 2021, including core fixed income assets, where KIS partners with leading global asset managers. For more information about KIS, please visit https://kuvare.com/insurance-services.

About Kuvare
Kuvare is a technology-enabled financial services platform that provides insurance, reinsurance, and asset management solutions. Headquartered in Chicago, IL, Kuvare focuses on delivering value-oriented solutions to the middle market. Founded in 2015, Kuvare is committed to a sustainable growth strategy, backed by a consortium of long-term capital partners. The family of Kuvare companies includes Lincoln Benefit Life Company, Guaranty Income Life Insurance Company, United Life Insurance Company, Kuvare Life Re, and KIS.

Spotlight

THE OPPORTUNITY The insurance industry has not evolved in any significant way since its inception. And yet, thanks to its positioning as a ‘must-have’ product, it remains one of the most lucrative industries in the world. – In 2016, on average, every single person in the world spent USD $638 on insurance premiums; – Global direct insurance premium markets totalled USD $4.6 trillion, which accounted for 6.3% of global GDP; – Emerging markets such as China were the main source of 3.1% year-on-year global growth.


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