Conning hires insurance team from Brookfield

Global insurance asset management firm Conning has acquired a team of insurance asset managers and some of the assets they manage from Brookfield Investment Management. The portfolio includes several reinsurers.

Conning is also forming a new investment office in Manhattan, New York, on the back of the deal.

Upon completion of the transaction, the insurance clients involved – including property/casualty and reinsurance companies – will be managed under the Conning brand, with full access to the firm’s insurance-focused asset management platform, insurance research, and risk management capabilities.

There will be no change to the investment team overseeing client relationships. Conning said the move signals its continued commitment to serve the insurance industry and adds meaningful scale to its North American operations.

“This transaction is a natural extension of our core investment platform, providing us additional expertise to service our clients.  We are excited to have Brookfield’s experienced and respected team of insurance asset management professionals join Conning,” said Woody Bradford, chief executive of Conning. “Our investment philosophy and culture of exceptional client service are very closely aligned.”

The team joining Conning – led by Joseph Syage and Dominick Bonanno – will integrate with Conning’s US portfolio management group.

Syage said: “Our team is excited to become part of the Conning organisation. We believe this will be a seamless transition for our clients given Conning’s deep resources, investment experience and capabilities, and we look forward to future growth opportunities for our team. Importantly, this is a perfect cultural fit.”