Private asset exposure by European Economic Area (EEA) (re)insurers amounted to €1.185trn – or around 11% of total assets, according to latest statistics published by EIOPA.
Private equity made up about 6% of total assets, while private credit, accounted for the remaining 5%.
More than two-thirds of private credit exposures are in mortgages and loans, with the largest share being direct holdings of mortgages (31.9% of private credit).
European (re)insurers hold 20.6% of their overall private equity investments in unlisted equity issued by German businesses. Another 0.8% in unlisted German businesses is held indirectly.
Life insurers exhibit the highest exposure to private assets with 23.1% of total investment, followed by reinsurers (14%), non-life insurers (13.6%) and composites (11.4%).
