Global Insurance Report 2019

Re-engineering for resilience

Now in its eighth edition, the 2019 BlackRock Global Insurance Report provides insights from 360 senior insurance and reinsurance executives across 25 countries and representing over $16 trillion in global investable assets.

The report covers views on market conditions, portfolio construction challenges, the role of private markets and ESG, as well as providing BlackRock’s latest perspectives on key issues affecting the insurance industry.

Constructive on the cycle
Insurers have a positive outlook on the current environment but see risks on the horizon. Slowing economic growth and interest rate and credit risks are top of mind.
Seeking resilience
While insurers remain risk orientated, with nearly twice as many increasing risk as reducing it, they are taking steps to make their portfolios more resilient.
Revisiting portfolio construction
The desire to improve diversification is driving insurers to make a variety of portfolio changes, from increasing cash holdings to allocating to diversifying private assets.
Optimizing fixed income
Amid a challenging rate environment, insurers favor higher-yielding investments, including corporates, securitized assets and ESG bonds, at the expense of government debt.
Integrating alternatives
Private markets continue to be a focus, with 73% of insurers considering higher allocations despite the barriers. Private equity is the likeliest destination.
Preparing for a sustainable future
We see strong progress on incorporating ESG considerations into portfolios, but the vast majority of insurers still believes ESG involves compromises relative to other goals.
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Global Insurance Report 2019
Results for North America
North American insurers are the most optimistic about the current investment environment but are wary of liquidity and credit risk. We see continued interest in private markets with the search for return as a driver.
Results for North America.