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Abstract shapes and clouds

2024 GLOBAL INSTITUTIONAL INVESTOR SURVEY - INSURANCE EDITION

EQuilibrium

View insurance findings

The tactical and strategic themes shaping insurance portfolios 

Over 220 insurers globally (along with nearly 580 other institutional investors) share their views on the macro environment and asset allocation to sustainability and energy transition in our latest EQuilibrium institutional investor survey. Gain new insights into how these insurers manage over of $5.7 trillion in assets.

Highlights from the survey

47%
Adding public investment grade bonds, while 30% reducing public below-investment grade
47%
Adding public investment grade bonds, while 30% reducing public below-investment grade

Insurers look to high quality public and private debt

Insurers are taking advantage of opportunities to trade up in quality, lock in higher fixed rates, extend duration and add a little more liquidity with public investments. 

Nearly half (47%) are adding public investment-grade bonds, while 30% are reducing public below-investment grade.

How are insurers shifting fixed income allocations over the next two years?

The current environment has many investors adjusting their fixed income allocations. Please indicate the directional changes you plan to make in the next two years. (n = 224)

Chart: How are insurers shifting fixed income allocations over the next two years?

#1
Private credit and private infrastructure are the top choices for insurers looking to increase alternatives
#1
Private credit and private infrastructure are the top choices for insurers looking to increase alternatives

Demand for private credit and private infrastructure continues

More insurers are adding rather than reducing allocations across all subsectors, with private credit, private infrastructure and private equity the top choices.

Allocation plans across alternative asset classes

Please select the alternative investments you are currently allocated to and how you plan to adjust allocations over the next two years. (n = 224)

Chart: Allocation plans across alternative asset classes
84%
Considering or planning to consider energy transition in investment decisions
84%
Considering or planning to consider energy transition in investment decisions

Insurers putting money to work in energy transition

Most insurers (84%) consider or plan to consider energy transition in investment decisions, and they are putting money to work.  

Alternative energy and new infrastructure projects are attracting the most attention. 

In which thematic areas do insurers plan to invest?

Please indicate the thematic areas your organization already invests in or plans to invest in over the next five years. (n = 224)

Chart: In which thematic areas do insurers plan to invest?

About the survey
Nuveen and CoreData surveyed 800 decision-makers at institutions globally in October and November 2023. Of that, 224 were insurance companies: 35% from North America, 42% from EMEA, and 22% from APAC. More than half (59%) of asset owner survey respondents represented organizations with assets of more than $10B and 41% had less than $10B, with a minimum asset level of $500 million. The survey has a margin of error of ± 3.5% globally and ± 6.6% for insurance companies at a 95% confidence level.

Discover our market and portfolio insights for insurers

Contact us
Joe Pursley
Joseph Pursley
Head of Insurance, Americas
Christina volkmann
Christina Volkmann
Head of Insurance, Central Europe, Global Client Group
 Kyrylo Sukhanenko
Kyrylo Sukhanenko
Head of Insurance, UK
Kelvin Cheung
Kelvin Cheung
Greater China
The views and opinions expressed are for informational and educational purposes only, as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions, legal and regulatory developments, additional risks and uncertainties and may not come to pass. This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition. Any changes to assumptions that may have been made in preparing this material could have a material impact on the information presented herein by way of example.

Past performance is no guarantee of future results. Investing involves risk; loss of principle is possible.

All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

Risks and other important considerations

This material is presented for informational purposes only and may change in response to changing economic and market conditions. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients. Certain products and services may not be available to all entities or persons. Past performance is not indicative
of future results.

Economic and market forecasts are subject to uncertainty and may change based on varying market conditions, political and economic developments. As an asset class, real assets are less developed, more illiquid, and less transparent compared to traditional asset classes. Investments will be subject to risks generally associated with the ownership of real estate-related assets and foreign investing, including changes in economic conditions, currency values, environmental risks, the cost of and ability to obtain insurance, and risks related to leasing of properties.

This information does not constitute investment research, as defined under MiFID.

Responsible investing incorporates Environmental Social Governance (ESG) factors that may affect exposure to issuers, sectors, industries, limiting the type and number of investment opportunities available, which could result in excluding investments that perform well.
 
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