Insurers are bracing for another year of uncertainty, with inflation once again cited as one of the top macroeconomic risks, according to BlackRock’s 14th annual Global Insurance Report. The report surveyed 463 senior investment professionals across 33 markets — representing $23 trillion in assets under management — shows a sector adapting with caution but also seizing opportunities in both public and private markets.
Even as risk appetite remains low — only 12 percent of insurers plan to increase their overall investment risk exposure in 2025 — allocations to private markets continue to rise. Nearly a third (30 percent) of insurers expect to increase private allocations with 58 percent intending to maintain their current exposure. Some 79 percent of respondents expect their private markets exposure to change by 1–5 percent, 13 percent anticipate a change of 6–9 percent and 1 percent expect a change of 10 percent or more throughout the next 12 months, influenced
