Global alternatives manager ICG has appointed Luke Schlafly as global head of insurance as it looks to expand its investor base across insurers.
The firm, which manages $127bn (£95.3bn) in assets, said the hire will strengthen its relationships with insurance clients while supporting the expansion of its private markets strategies and product structuring for the sector. ICG’s current focus includes asset-backed finance, direct lending and real estate.
Schlafly joins from PineBridge Investments, where he was director and global head of insurance investment solutions. He also previously held senior roles at Deutsche Asset Management, focusing on investment strategies for insurance clients across the US and Canada.
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“ICG has built a world-class private markets platform that is remarkably well positioned to support the needs of the global insurance market,” said Schlafly. “I am thrilled to join the firm and to lead the continued expansion of its global insurance client franchise.”
He will join ICG’s client solutions group and report to Alan Isenberg, global head of the division.
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“Luke’s client and content-led approach has earned the long-term trust of senior insurance allocators around the world,” said Isenberg. “He will lead our efforts to engage clients, build responsive products and wrappers, and partner on business-building opportunities.”
The move comes as insurers have increased their allocations to alternative credit, while asset managers have ramped up efforts to access the sector. Last week, Oaktree Capital Management agreed to acquire a controlling stake in Atlantic Coast Life Insurance Company, highlighting growing competition for insurance capital.
