Asset Allocation Strategies for Insurance Companies

As an investment manager for an insurance company, you are tasked with designing a strategic asset allocation framework that aligns with the company's liability profile and regulatory constraints. Consider the nature of insurance liabilities, including life, property, and casualty insurance products.

Discuss the key factors that should influence the asset allocation decisions for the insurance company, including interest rate risk, inflation risk, and regulatory requirements. Additionally, explain how the company's investment strategy may differ for different types of insurance products.