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HEC-Ecole de gestion de l'Université de Liège
MASTER THESIS

To what extent does the growing use of alternative investments by European insurance companies constitute a search-for-yield and/or an adaptation to imposed regulations?

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Cornet, Ariane ULiège
Promotor(s) : Prunier, Laurent ULiège
Date of defense : 31-Aug-2026/4-Sep-2026 • Permalink : http://hdl.handle.net/2268.2/27643
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Title : To what extent does the growing use of alternative investments by European insurance companies constitute a search-for-yield and/or an adaptation to imposed regulations?
Translated title : [fr] Dans quelle mesure l’utilisation croissante d’investissements alternatifs par les compagnies d’assurance européennes constitue-t-elle une recherche de rendement et/ou une adaptation aux réglementations imposées ?
Author : Cornet, Ariane ULiège
Date of defense  : 31-Aug-2026/4-Sep-2026
Advisor(s) : Prunier, Laurent ULiège
Committee's member(s) : El Azri, Samy ULiège
Language : English
Number of pages : 68
Keywords : [fr] alternative investments
[fr] broad alternatives
[fr] narrow alternatives
[fr] European insurers
[fr] Solvency II
[fr] search-for-yield
[fr] regulation
[fr] bonds
[fr] real-estate
[fr] infrastructure
Discipline(s) : Business & economic sciences > Finance
Target public : General public
Institution(s) : Université de Liège, Liège, Belgique
Degree: Master en sciences de gestion, à finalité spécialisée en Banking and Asset Management
Faculty: Master thesis of the HEC-Ecole de gestion de l'Université de Liège

Abstract

[en] European insurers have steadily increased their use of alternative investments over the past decade. This shift is usually explained in one of two ways: as a search for yield, encouraged by the long period of low interest rates, or as an adaptation to the Solvency II capital framework. These explanations are normally studied separately. This thesis asks to what extent the growing use of alternatives reflects a search-for-yield strategy, a regulatory adaptation, or both, and it tests the two motives jointly on a single European dataset.


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Author

  • Cornet, Ariane ULiège Université de Liège > Master sc. gest., fin. spéc. banking & asset man.

Promotor(s)

Committee's member(s)

  • El Azri, Samy ULiège Université de Liège - ULiège > HEC Liège : UER > UER Financ, Compta et Droit : Analy financ & financ d'entr
    ORBi View his publications on ORBi








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