The constraints of ALM

Jeon Young-muk heads asset portfolio management for the general account of Samsung Life Insurance, which, with $150 billion of assets under management, is the fourth largest in Asia ex-Japan. Jeon has been with Samsung Life for 27 years, the past 15 of them with its portfolio management team. Q What defines your asset allocation? A Our liability structure. We are still dealing with policies sold 20 years ago when Korean interest rates were in double digits. Rates today may be hi…