Allianz plans local ALM teams, flags ULP challenges

Matching assets to liabilities in Asia has always been a big challenge due to the relative lack of long-duration bonds and low interest in unit-linked products (ULPs). And the low-interest-rate, low-yield environment in recent years has made things even more difficult. So it is not surprising that insurance firms in Asia, both home-grown and foreign, are focusing more on asset-liability management (ALM) than they have in the past – especially with their peers elsewhere forced to d…