Against a volatile market, an uncertain economic environment, what's on the minds of some of the world's largest investors?

Insurers are looking at the backdrop with two lenses.

They're increasingly worried about the potential for a recession or for the

erosion of credit quality as the economy slows, but they're also very excited

that interest rates are higher, that yields and returns available on in

particular fixed income investments are higher and they're really looking forward to

taking advantage of those higher returns, those higher yields, to build those

into their portfolios.

I'm Allison Nathan and this is exchanges at Goldman Sachs. From rising interest rates to recession fears, insurance companies are taking a more cautious approach with their multi-billion

dollar investment portfolios.

Today Goldman Sachs is Mike Siegel, Globalhead of the Insurance Asset Management and Liquidity

Solutions businesses, and Matt Armis,

Global Head of Insurance Asset Management,

join me to discuss what's on the minds of this influential investor base.

Mike, Matt, thanks for joining us. Thank you. Glad to be here. So just to set the

stage, insurers represent one of the largest investors in the world and so their

investment decisions can have an outsized impact on markets and

investment flows.

So for our listeners, first, Mike, can you just broadly define for us what insurers as

an investor base are and the impact they can have on the global

economy.

Sure, Allison.

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