What Conning does

Conning is a global, insurance-specialist asset manager founded in 1912 and headquartered in Hartford, Connecticut. The firm is privately held and ultimately controlled by Assicurazioni Generali S.p.A. through Generali Investments Holding S.p.A., and operates as part of a broader platform spanning 20+ countries and $670B+ AUM. Conning's core customer base is insurance companies (P&C, life, annuity) and pension plans, served through three primary lines of business: (1) customized investment management across fixed income, private credit (CLOs, direct lending), emerging markets debt, and commercial real estate, with $190B+ in combined AUM across Conning and affiliates; (2) proprietary risk modeling software (GEMS, ADVISE, FIRM, Conning Climate Risk Analyzer, Conning Allocation Optimizer) licensed to insurers and pension plans for regulatory scenario generation, enterprise risk management, strategic asset allocation, and climate risk analysis; and (3) a 50-year-old insurance research and consulting practice publishing strategic studies, focus series, and forecasts sold via direct purchase.

The company generates revenue predominantly through recurring asset management fees tied to AUM, supplemented by subscription-based enterprise software licensing (quote-driven on AUM and organizational size) and one-time/perpetual research report licensing ($1,000-$2,750 per study). GTM is direct enterprise field sales through investment centers in North America (Hartford, Boston, New York), Europe (London, Cologne), and Asia (Hong Kong), supported by thought leadership content (research publications, podcasts, video series) and participation in industry conferences. Conning's growth strategy has been executed primarily through majority-stake acquisitions of specialist affiliates — Octagon Credit Investors (2016), Global Evolution (2018/2020), Pearlmark Real Estate (2023), and MGG Investment Group (2025) — each adding a distinct asset class capability to the insurance-focused platform. The firm is SEC-registered, FCA-authorized, SFC-regulated, and holds FINRA broker-dealer status, with multiple 2025-2026 industry awards (Insurance Asset Risk, Insurance Insider, InsuranceERM, Risk.net, Chartis, Bloomberg Businessweek) validating product leadership in fixed income, climate risk, and scenario generation.

Name

Conning

Legal name

Conning Holdings Limited

Website

http://www.conning.com/

Company type

Private

Founded year

1912

Operating status

Operating

Headcount range

251–500 employees

Short description

Conning is a global, insurance-specialist asset manager and risk modeling software provider founded in 1912, serving insurers (P&C, life/annuity) and pension plans with $190B+ in combined AUM across affiliates, proprietary GEMS/ADVISE/FIRM software, and 50+ years of insurance research.

Ownership category

akta.pro rank

Product category

Insurance Asset Management

NAICS

Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Comprehensive Financial Planning (FSAEAAAA)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Sustainable/Thematic Investing (Climate, Clean Tech, Water, Biodiversity) (FSAAALAB)

Keywords

• Insurance asset management
• Risk modeling software
• Economic scenario generation
• Strategic asset allocation
• Insurance industry research

Headquarters

HQ city

Hartford

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Asset Management Fees: Conning earns fees based on assets under management. The company manages over $190 billion in combined assets across Conning and its affiliates including Global Evolution, Octagon Credit Investors, Pearlmark Real Estate, and MGG Investment Group.
2. Research and Strategic Studies: Sale of insurance research reports, strategic studies, focus series, forecasts, and market overviews. Reports are available for purchase with prices ranging from approximately $1,000 to $2,750 for major studies.
3. Software Licensing and Subscriptions: Licensing of proprietary risk modeling software including GEMS, ADVISE, FIRM, and related tools to insurers and pension plans. Software is licensed across North America, Europe and Asia.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

Conning provides customized investment management solutions, proprietary risk modeling software (GEMS, ADVISE, FIRM, Climate Risk Analyzer, Allocation Optimizer), and insurance industry research and consulting services. The firm manages $190+ billion in combined assets under management across Conning and its affiliates (Global Evolution, Octagon Credit Investors, Pearlmark Real Estate, MGG Investment Group), serving insurance companies, pension plans, and institutional investors globally.

Product overview

Conning offers a suite of proprietary risk modeling software products combined with investment management and insurance research services. The core software portfolio includes GEMS® Economic Scenario Generator, ADVISE® Enterprise Risk Modeler, FIRM® Portfolio Analyzer, CONNING CLIMATE RISK ANALYZER®, and CONNING ALLOCATION OPTIMIZER®, which work together to provide insurers with comprehensive financial risk modeling, economic scenario generation, portfolio analysis, and strategic asset allocation capabilities. These software tools are complemented by advisory services including insurance solutions, insurance research, consulting services, and purchase reports. The platform also addresses regulatory requirements through NAIC GOES and LDTI solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• GEMS Economic Scenario Generator
• ADVISE Enterprise Risk Modeler
• FIRM Portfolio Analyzer Advanced stochastic strategic asset allocation tool for portfolio analysis and optimization. Registered trademark of Conning, Inc.
• Conning Climate Risk Analyzer Climate risk analysis tool for assessing physical and transition climate risks in investment portfolios. Registered trademark of Conning, Inc.
• Conning Allocation Optimizer Strategic asset allocation optimization tool for portfolio construction and rebalancing. Registered trademark of Conning, Inc.
• NAIC GOES Solutions Software and services related to the NAIC Global Output-Based Estimator System for insurance regulatory reporting.
• LDTI Solutions Long Duration Targeted Improvement software and consulting services for insurance accounting and reporting.
• Strategic Asset Allocation Services Strategic asset allocation services and tools for insurers and pension plans to optimize portfolio construction.
• Economic Capital Modeling Services Economic capital modeling services for enterprise risk assessment and capital planning.
• Portfolio Analysis Services Portfolio analysis tools and services for investment performance evaluation.
• Insurance Research Publications Subscription-based and per-report insurance industry research including strategic studies, focus series, forecasts, market overviews, and commentary covering P&C, Life-Annuity, MGA, cyber insurance, and pension risk transfer markets. 50+ years of data and executive surveys.
• Strategic Studies and Focus Series Reports Major insurance research reports for sale at $1,000-$2,750 each, covering MGA studies, PRT and VM-22 studies, Life Annuity reports, and Property-Casualty focus series. Available via direct purchase.
• Customized Asset Management Solutions Customized, integrated investment management solutions for insurance companies and pension plans, covering traditional and specialty asset classes. Provided across Conning and its affiliates (Global Evolution, Octagon Credit Investors, Pearlmark Real Estate, MGG Investment Group) with $190+ billion in combined AUM.
• Insurance Consulting Services Insurance industry consulting services provided by Conning's Insurance Solutions and Insurance Research teams to support client decision-making, regulatory compliance, and strategic initiatives.
• Insurance Solutions Insurance-focused investment solutions, risk management software, and consulting tailored to P&C and Life/Annuity insurers.

Quantifiable outcome

• GEMS Economic Scenario Generator awarded ESG Software of the Year and Stress Scenarios Software of the Year in InsuranceERM 2026 Americas Awards
• +4 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• United Nations Principles for Responsible Investment (UNPRI)coreStrategic or Co-development Partner · 1 April 2012Conning became a signatory to UNPRI in April 2012. UNPRI is a globally recognized UN-backed initiative to promote responsible investment. The Principles provide a voluntary framework for incorporating ESG issues into investment decision-making and ownership practices.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Market position

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/conning
• Xx.com/ConningNews

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Conning