BlackRock Study: Global Insurers are Future-Proofing Portfolios Amidst Shifting Markets
27 Setembro 2022 - 1:00AM
Business Wire
- Incorporation of ESG and climate considerations into the
investment process is growing in prominence amongst insurers
- 68% of respondents are prioritizing investment in technology
for risk management at scale
- Growing adoption of fixed income ETFs to help manage liquidity
and seek enhanced yield
- 79% of insurers surveyed plan to review their long-term
strategic asset allocation (SAA)
Global insurers are innovating their investment approaches
amidst rapidly changing market conditions this year, focusing on
resilient portfolio construction, liquidity management, and
integrated technology, according to BlackRock’s 11th annual Global
Insurance Report. The firm surveyed 370 insurance investors across
26 markets, representing nearly $28 trillion USD in assets under
management.
Charles Hatami, Global Head of BlackRock’s Financial
Institutions Group, said, “The current investment landscape is a
result of major upheaval over the past two years, and uncertainty
is only expected to increase. The insurance clients with whom we
partner understand that innovation at scale and a nimble approach
will be critical to navigate the complexity ahead.”
Accelerated portfolio reviews to balance risk and
liquidity Seventy-nine percent of insurers surveyed plan
to review their long-term strategic asset allocation (SAA) and
nearly half (48%) will review risk appetite thresholds this year.
Most insurers (60%) reported inflation as their top market concern,
with asset price volatility (59%) and liquidity (58%) close behind.
To further diversify their portfolios, most insurers (87%) plan to
increase allocations to private investments over the next two
years, which would represent a 3% average increase versus their
current allocation. Insurers also plan to increase allocations to
liquid assets, suggesting a barbell approach, with 37% of
respondents intending to allocate to cash and 31% to fixed
income.
Lyenda Delp, Head of BlackRock's Financial Institutions Group
for the Americas, said, “Insurers maintain a sustained appetite for
risk assets, but as we move on from a long period of steady growth
and inflation to the new regime of heightened macro and market
volatility, their goals are more dynamic than a search for yield or
general diversification. On a whole portfolio basis, insurers are
now re-evaluating the role that every asset class must play to
build in resilience.”
Focused on an integrated approach to ESG and climate
investing More than two-thirds of the survey respondents
reported they are either likely or very likely to implement broad
ESG targets in their portfolios in the next 24 months. In addition,
85% reported they are either likely or very likely to commit to
specific climate objectives for their portfolio. Sixty- two percent
of insurers surveyed see decision making related to sustainability
as a major trend shaping their industry in the coming years. The
right technologies and tools will be critical for insurers to
ensure consistency across sustainability analytics, with
applications including regulatory disclosure and reporting, through
to evaluating investment allocations.
Continued innovation in risk management: from digital
transformation to ETFs Sixty-five percent of insurers
reported digital transformation and technology as the most
important trend in the insurance industry over the next 12-24
months, compared to 44% in 2021. Nearly all (98%) reported using
artificial intelligence, machine learning, predictive analytics,
blockchain, or a combination of these technologies, with predictive
analytics being utilized both for the management of insurance
business (65%) and investment operations (72%). When it comes to
future tech spend, the vast majority of insurers surveyed plan to
prioritize investments for asset and liability management (68%),
along with regulatory compliance (54%) and market data (53%).
The insurers surveyed are also driving adoption of new
investment approaches such as bond ETFs. Insurers report they plan
to increase the use of fixed income ETFs in their portfolios,
primarily to potentially improve liquidity (54%) and yield (48%).
According to BlackRock research, eight of the ten largest US
insurers now report using bond ETFs, with five having adopted them
after the volatile markets of March 2020.1 And so far this year,
BlackRock has identified 17 insurers throughout Europe, the Middle
East, and Africa who are using ETFs for the first time.2 Given
fixed income ETFs are often seen as efficient vehicles to generate
yield and income in a low-cost and scalable way, BlackRock recently
forecast that global bond ETF assets under management could reach
$5 trillion USD by 20303 – and insurance investors are a major
driver of this new approach.
About the BlackRock Global Insurance Survey
The BlackRock Global Insurance Survey, now in its eleventh year,
provides industry-leading insight into the thinking and plans of
the global insurance industry through independently conducted
online and telephone interviews of senior insurance executives
across the globe. This year’s survey conducted in June-July 2022
encapsulates the views of 370 senior industry executives in 26
markets. Taken together these companies represent investable assets
of approximately US$28tn. The associated interactive report
complements the global findings with regional results, comments
from industry peers and insights from BlackRock experts.
About BlackRock
BlackRock’s purpose is to help more and more people experience
financial well-being. As a fiduciary to investors and a leading
provider of financial technology, we help millions of people build
savings that serve them throughout their lives by making investing
easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com/corporate
1 S&P Global Intelligence, BlackRock
analysis of filings with the National Association of Insurance
Commissioners (NAIC) and the Securities and Exchange Commission (as
of April 2022).
2 BlackRock - New users are defined as
investors allocation to ETFs in 2022 following at least 3 years on
non-usage.
3 BlackRock - Estimated May 2022.
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has not been prepared in connection with any such offer.
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Thomasin Bentley thomasin.bentley@blackrock.com (+1) 646
231 1769 Kristen Rivera kristen.rivera@blackrock.com (+1)
646 231 8352
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