The conversation covers the definition and scope of specialty finance, its rapid growth since the Global Financial Crisis (GFC), and why it remains a compelling investment opportunity. Kris explains the intersection of market forces that make specialty finance a secular trend rather than a fleeting opportunity. He also discusses the impact of regulatory changes, such as Basel III and CECL, on bank lending and how insurance companies can benefit from these shifts.

Stewart and Kris explore the intricacies of sourcing deals, the role of non-bank originators, and the importance of structuring investments to meet insurance-specific criteria. This episode provides valuable insights for insurance investors looking to navigate the specialty finance landscape and capitalize on the current market dynamics. Tune in for an in-depth discussion on the strategies and opportunities in asset-based lending for insurers.