Fundraising from insurance companies: A guide to raising capital

Insurance companies (ICs) are some of the largest institutional investors globally, commanding nearly $38tn in total assets. Their portfolios tend to be dominated by allocations to public fixed income, which meets their requirements for asset-liability matching and liquidity. ICs also often have exposure to alternatives, particularly real estate. While the direction of regulation toward a risk-based framework may restrict expansion into real assets, the prospect of increasing allocations to private debt is credible, and it has the potential to displace public fixed income.

This report provides insight into ICs’ investment plans amid a changing global regulatory environment, and how alternative assets, particularly real assets and private debt, will be important to ICs.