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 Authority2026-07-16
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.