Columbus-based Aflac, a global insurance provider, recently hired a former portfolio manager at an affiliate of Warren Buffett’s Berkshire Hathaway to be chief investment officer for the U.S.
Before joining Aflac, Teresa McTague served as portfolio manager at General Re-New England Asset Management, where she was responsible for managing and investing unaffiliated assets for insurance clients in the U.S. and Europe.
Aflac has a $10.8 billion investment portfolio, but Bloomberg reported investment income has come under pressure due to falling interest rates. The return on Aflac Inc.’s U.S. portfolio dropped to an average of 5.86 percent in the three months ended March 31, from 6.48 percent a year earlier as bond yields fell, Bloomberg reported.
In addition to McTague, who will be based in New York, Aflac has also hired investment experts from Goldman Sachs Group and MetLife in recent years.
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