This is exchanges at Goldman Sachs, where we discussed developments currently shaping markets, industries in the global economy.

I'm Jake Stewart, Global Head of Corporate Communications here at the firm.

Our guest today is Mike Siegel, Globalhead of the Insurance Asset Management and Liquidity

Solutions Businesses within Goldman Sachs Asset Management and Liquidity Solutions Businesses

within Goldman Sachs Asset Management,

or G-SAM as we call it.

Every year Mike joins us because G-SAM

and his team there put out an insurance report

on how insurance companies are

allocating capital and that helps give us a glimpse into the

investing universe more broadly. On this episode we're going to talk with Mike

about the findings of this year's report and some follow-on conversations he had.

Welcome back to the program, Mike.

Jake, good to see you, thank you.

I wish it was in person, but good to see you anyway.

These are the times we live in.

I mentioned the report, but give us a little a little background Mike on why you do the report how it's different obviously this year from other years and what you found.

Well Jake as you know we've been doing this report for the last several years it's intended to get a good feel for

how the industry is thinking and where they are going to be investing this year's

report is quite different as you can imagine from prior years. We surveyed our

CIOs during the January and first week of February of this year. We received back

responses from 273 CIOs and CFOs representing over 13 trillion dollars in industry assets or close to half of the

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