1. February 2017

2. The PPiA is:
Membership of 50 private institutional placement investors
40|86 Advisors
Barings
Guardian Life Insurance
Northwestern Mutual
State Farm
Alliance Bernstein
CIGNA
Guggenheim Partners
Ohio National
State of Wisconsin
Advantus
Columbia Threadneedle
Hartford Investment Management
OMERS Capital Partners
Sun Life Investment Management
AEGON
Conning
John Hancock
One America
Thrivent Financial
AIG Investments
Delaware Investments
MEMBERS Capital Advisors
Pacific Life
TIAA
Allianz
Federated Insurance
MetLife
Phoenix
Unum Group
Allstate
American Equity
Fidelity & Guaranty
Modern Woodmen of America
Pan-American Life
USAA
Ameritas
Fort Washington
Mutual of Omaha
PPM America
Voya
Assurity Life
Genworth
Nationwide
Principal Global Investors
Woodmen of the World Life
Athene
Great West
New York Life
Prudential

3. PPiA Mission
We are a business association of insurance companies and other institutional investors who invest in privately placed debt instruments
We provide a forum for our members to discuss key industry issues with interested parties:
Regulators
Investment bankers
Debt issuers
Private debt purchasers
Other constituents

4. Facilitate Best Practices
Part of PPiA’s mission is to promote best practices for industry conduct and interaction:
With regulators
With investment bankers
With outside counsel
With debt issuers
With rating agencies
Amongst ourselves, as market participants

5. Interact With Related Groups
The PPiA has outreach to industry organizations that touch private placements:
American Counsel of Life Insurance
American College of Investment Counsel
North American Securities Valuation Association
Society of Actuaries
Securities Valuation Office
National Association of Insurance Commissioners

6. Promote the Private Placement Market
Part of PPiA’s mission is to promote the private placement debt market
Facilitate awareness in the capital markets
Encourage best practices for industry participants to have an efficient capital market

7. Facilitate Capital Access
Part of the PPiA’s mission is to facilitate capital access
Enable productive investments for the organizations that purchase debt private placements
Enable capital for companies, projects, and organizations that can benefit from our unique and patient ability to learn, analyze and understand a borrower’s story and business

8. Relationships Matter
In a transactional world, meeting and knowing the parties who will be partnered together for a decade or longer in a financial relationship has value
Repeat access to market
Ability to understand business needs
Respond constructively to find solutions
Maintain relationships with deal providers and borrowers
Encourage productive interaction with buy-side institutions
Encourage best practices

9. Advantages of Our Market
Long Term stable capital
Almost three quarters of a trillion dollars of long-term, stable capital
Capacity for complexity
Participants are willing to invest in complex transactions with flexible features such as delayed funding, amortizing structures, off the run maturities and foreign currency
Pioneer spirit
Investment community is willing to consider new geographies, industries and structures
Through the cycle
The private placement debt market stays open even during economic cycles with debt maturities available from 2 to 40 years

10. 2017 Important Issues In 2017, PPiA is especially focused on:
Smooth implementation of industry’s contribution to the new regulatory requirements on private letter ratings from the Securities Valuation Office (SVO) of the National Association of Insurance Commissioners (NAIC)
Monitor potential new capital rules from the NAIC

11. Our website: www.usppia.com
How To Contact Us
Our website: