Mortgage Business Bayview Gets Into Insurance Asset Management
- Effort to be led by former MetLife executive Mueller Handal
- New business to invest in mortgages, private structured credit
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Bayview Asset Management LLC is launching an insurance asset management arm that will seek to expand the range of investable assets available to insurers, according to a statement from the company.
The new business will take in money from insurance companies and invest in mortgages and in private structured credit. It will look to draw business from an insurance industry that’s “looking to diversify and expand beyond its traditional focus on corporate credit,” the company said in the statement.