Nuveen -Wed, 04/10/2024 - 16:29

Insurers favor tactical changes in higher-for-longer rate environment

Over 220 insurance companies globally (along with nearly 580 other institutional investors) share their views in Nuveen’s latest annual EQuilibrium institutional investor survey.

From views on the macro environment and asset allocation to sustainability and the energy transition, the survey reveals new insights into how these insurers manage over of $5.7 trillion in assets.

Three clear trends are evident as we enter 2024: asset allocation changes are tactical rather than strategic; demand for alternatives continues; and action, not talk, is the focus of sustainability investments.

“Insurers are taking advantage of opportunities to trade up in quality, lock in higher fixed rates, extend duration and add a little more liquidity with public investments.”

-Joseph Pursley, CIMA®, Head of Insurance, Americas

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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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