Originally published: Insurance Business Australia, 06 February 2026
Public markets still growing, but at a slower pace
Asia-Pacific insurers plan to increase private market and hedge fund holdings from 20% to 33% of portfolios within five years, though operational challenges could separate competitive winners from losers, according to research from Clearwater Analytics.
The study surveyed insurance asset management executives at firms managing $3.823 trillion in total assets. Findings showed insurers currently allocate an average of 20% of insurance-focused assets to private markets, with that figure forecast to rise to 33% within five years.
The research conducted, interviewed 150 senior executives from asset management arms of life, health and general insurers in Hong Kong, Singapore, and Australia, as well as third-party investment firms working for life insurance carriers.
The research, commissioned by Clearwater Analytics and conducted by independent research agency Pureprofile, found insurers still plan to increase allocation to public markets over the next 24 months, though at a slower rate than for private markets and hedge funds.
