Nuveen -Thu, 03/20/2025 - 20:52

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.

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Contacts

Nuveen

Nuveen is the asset manager for TIAA, one of the world’s most highly rated and financially stable insurance companies¹. We leverage our deep expertise in partnering with insurance clients to tailor capital-efficient solutions to meet complex portfolio construction needs. Our platform of $1.4 trillion in AUM² offers differentiated investments across private credit and private equity, real assets, fixed income, and responsible investing focused strategies. For more information, please visit www.nuveen.com/insurance.

1. For its stability, claims-paying ability and overall financial strength, Teachers Insurance and Annuity Association of America (TIAA) is one of only three insurers in the United States to currently hold the highest rating available to U.S. insurers from three of the four leading insurance company rating agencies: A.M. Best (A++ as of July 2025), Fitch (AAA as of August 2025), Standard & Poor’s (AA+ as of November 2025), and the second highest possible rating from Moody’s Investors Service (Aa1 rating affirmed as of February 12, 2026). There is no guarantee that current ratings will be maintained. The financial strength ratings represent a company’s ability to meet policyholders’ obligations and do not apply to variable annuities or any other product or service not fully backed by TIAA’s claims-paying ability. The ratings also do not apply to the safety or the performance of the variable accounts, which will fluctuate in value.

2. Assets under management as of 31 Dec 2025. Nuveen assets under management (AUM) is inclusive of underlying investment specialists. Totals may not equal 100 % due to rounding.

Joseph Pursley, CIMA
Head of Insurance, Americas
Joseph.Pursley@Nuveen.com
445-245-1063

Nuveen, a TIAA Company
333 W. Wacker Drive
Chicago, IL 60606

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