Andrew Putwain: Can you introduce yourself, your role, and your background?
Jerome Delposen: Henry Costa Partners is a UK-based merchant bank focused on the UK and European insurance sector. I focus on our Capital Markets business, where we originate differentiated risk-adjusted fixed income assets and structure them to fit the right insurance balance sheets.
I’m a fixed income structurer at heart. Over the past 20-plus years I’ve run structuring and solutions teams at global investment banks — Credit Suisse First Boston, Morgan Stanley, UBS — and at a reinsurer, Munich Re, across Europe and Asia, covering the insurance and pensions sector extensively.
Andrew: You’ll be chairing the Asset Allocation & Investment Strategy (AAIS) theatre at IILE 2026. What are the challenges and opportunities you’re seeing in this area?
Jerome: Demographics, global geopolitical tension, and decades of debt-funded sovereign deficits have made one thing clear: Europe needs a functioning capital market to fund its real economy at scale. That’s a historic opportunity for the European insurance sector — a €10 trillion capital pool.
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