2025 Global Insurance Survey - Nuveen EQuilibrium

Our forward-looking survey asked 235 insurance companies globally (along with 565 other institutional investors) about their views on the macro environment, where they are moving assets and how they are tracking and measuring the non-financial impact of their investments. The responses reveal insights into how these insurers mange $6 trillion in assets. Key findings include:

• Despite continued concerns over geopolitical risk and market volatility, insurers are gaining greater confidence in the macro environment.
• The move towards private assets will continue. Across all regions, insurers are increasingly adding to private credit, and nearly half report expanding into new niches in this space, including esoteric asset-backed securities and net asset value (NAV) lending.
• While some insurers are pulling back from ESG factors, many are placing greater focus on impact investing and tracking non-financial performance to the Sustainable Development Goals.