Lombard and Accenture’s analysis of life assurance in Europe
Luxembourg-based is a wealth and succession planning solutions for high net worth individuals, families and institutions and is a European leader in the services it provides. This week, the firm that it will be joining forced with Accenture to launch a pan-European analysis of unit-linked life insurance, which is also known as wealth assurance.
Providing portability, flexibility, asset diversification and protection, Wealth assurance solutions are progressively being used by wealth and succession planning professionals across Europe.
The review is described to be “the first of its kind”, wealth management professionals such as independent wealth and financial advisers, private bankers, insurance brokers, family offices and asset managers are invited to anonymously contribute. It will cover professionals based in the UK, Belgium, Finland, France, Germany, Italy, Luxembourg, Norway, Portugal, Spain, Sweden, and Switzerland.
“We are excited to be partnering with Accenture to launch this first of its kind analysis of the market,” commented Jurgen Vanhoenacker, Executive Director, Sales and Wealth Structuring at Lombard International Assurance. “Unit-linked life insurance is an increasingly recognised wealth and succession planning tool, and, as the European leader, we are keen to understand the thoughts, views and perceptions of professional advisers.”
The review’s goal is to create a broad viewed analysis by investigating the insights received. These observations will provide a valuable scope into how present and future insurance-based wealth planning solutions are perceived across Europe.
“The results of this survey will help the wider industry better serve the needs of partners and their clients to ensure we continue to innovate and support clients to protect, preserve and pass on their wealth and legacy to future generations,” Vanhoenacker continues. “It will be particularly interesting to examine these results in the context of the recent Covid-19 pandemic and how that will shape the future of transacting business across Europe.”
Results and key findings will be released in a summarised report in Q4 2020.
Aviva Investors launch $350m global climate credit fund
Aviva Investors has launched a climate transition global credit fund and has already allocated US$350m in strategic capital.
The funding, which has been provided by Aviva’s UK and Irish multi-asset funds, will be used to invest in companies offering goods and services that support climate change mitigation and the move towards a more sustainable future.
According to reports, the fund is in line with Aviva’s ESG philosophy on green policies and the United Nations sustainable development goals. It will be handled by portfolio managers Justine Vroman and Tom Chinery, as well as the noted climate specialist, Rick Stathers.
Aviva sustainable investment strategy
Companies excluded from the investment fund will be those entrenched in the fossil fuel industry, while enterprises that look at solutions to climate-related problems, such as sustainable transport, renewable energy and environmentally conscious lending, will be targeted.
Aviva Investors confirmed the goal is to capture transition-oriented companies with low decarbonisation and physical impact risk.
The initiative will also be benchmarked against the Bloomberg Barclays Global Aggregate Corporates Index, investing predominately in investment-grade companies and a small allocation of up to 5% in high-yield bonds.
Colin Purdie, Aviva Investors chief investment officer for credit, explained, "We can't pivot to a lower-carbon world if all we do is rule out the poor performers and only invest in companies that provide solutions to climate change. All companies need to adjust for a warmer, lower carbon world, which is why we felt it was important to use a wider transition lens to capture a larger set of businesses beyond those with obvious green credentials."
He said, "As investors, it is our responsibility to look beyond small pockets of green finance to engage and mobilise the liquidity of the wider credit market to assist in climate transition and the achievement of net zero carbon emissions."
Purdie added, "Companies that don't adjust their business models will be less attractive to investors and will present a less compelling investment case over time. Climate laggards may find that their financing becomes more expensive than that available to climate leaders."