The European Insurance and Occupational Pensions Authority has published a factsheet on European Economic Area insurers’ and reinsurers’ exposures to private assets, with a focus on private credit and private equity. It shows that private asset exposures totaled EUR 1.185 trillion at year-end 2025, equivalent to about 11% of total assets of EUR 10.53 trillion. Private credit accounted for EUR 523 billion, or 5.0% of total assets, while private equity accounted for EUR 661 billion, or 6.3%. The breakdown shows that more than two-thirds of private credit exposures were in mortgages and loans, at 68.9% of private credit, including 31.9% in direct mortgage holdings. On the private equity side, unlisted equity represented 73.7% of private equity exposures, and EEA insurers and reinsurers held 20.6% of overall private equity investments in unlisted equity issued by German businesses, plus another 0.8% indirectly via funds. By line of business, life insurers had the highest exposure to private assets at 23.1% of total investment, followed by reinsurers at 14.0%, non-life insurers at 13.6% and composites at 11.4%, while unit-linked portfolios had limited exposure overall. Life business was more tilted toward private credit, whereas reinsurance, non-life and composite business showed higher allocations to private equity.
European Insurance and Occupational Pensions Authority publishes factsheet showing EEA insurers and reinsurers held EUR 1.185 trillion of private assets at end-2025
The European Insurance and Occupational Pensions Authority published a factsheet on EEA insurers’ and reinsurers’ private asset exposures at year-end 2025. It showed EUR 1.185 trillion of private assets, equal to about 11% of total assets, split between EUR 523 billion in private credit and EUR 661 billion in private equity. Life insurers had the highest overall exposure, while unit-linked business remained only lightly exposed.