Asset manager Conning has confirmed its insurance risk software and modelling products will be part of the acquisition by Generali Investment, the €516bn ($566bn) asset management arm of Generali Group.
The deal was announced on 6 July and Conning has said it will continue to operate autonomously under the current management teams, including the leadership of chief executive Woody Bradford.
Under the terms of the deal, Conning’s current owner, Cathay Life Insurance, will enter into a partnership with Generali by contributing its ownership of Conning in exchange for 16.75% ownership of Generali Investments.
The transaction is subject to regulatory review and is expected to close in the first half of 2024.
As well as managing more than $200bn of assets for institutional and retail investors, Conning offers risk software solutions including its GEMS Economic Scenario Generator, its FIRM Portfolio Analyzer and the Conning Climate Risk Analyzer.
Speaking to InsuranceERM, Lorraine Hritcko, managing director and head of risk solutions at Conning, said, she does “not foresee any change in the way we conduct our software business globally” following the acquisition by Generali Investment.
A comprehensive listing of Conning’s risk software solutions can be found in InsuranceERM’s technology guide, which lists over 110 risk, capital and modelling technology tools from 50 international vendors.
Free entries are now available for vendors and software providers wishing to be listed in InsuranceERM’s 2023-24 Technology Guide. The deadline for entries to the directory is FRIDAY 11 AUGUST.
A basic entry in InsuranceERM’s technology guide is free and at the discretion of the InsuranceERM editorial team. If you would like to be considered for inclusion in the 2023 guide, please click here to register your interest and we will send you the information to enter.