Shifting Foundations: The Evolving Role of Real Estate in Insurer Portfolios

U.S. insurers have invested heavily in real estate since virtually the industry's inception, but the role they play as providers of capital has evolved significantly in recent years. Today, insurers directly and indirectly hold large—and growing—amounts of real estate-linked equity and debt across a wide range of structures, property types, and geographies, each with its own risk-return profile.

The story is not uniform, however. While insurer holdings of investment real estate have remained relatively flat over the past decade, mortgage loan holdings have nearly doubled over the same period. This trend reflects the industry's pursuit of incremental yield, as well as regulators' ongoing efforts to better align capital requirements with underlying risks.

Join our panel of experts as they explore this important segment of insurer portfolios, including:

• How real estate supply and demand are evolving and the key factors driving those changes
• What insurer portfolio allocation trends reveal across various real estate and real estate-adjacent asset classes
• The factors likely to shape future demand, including demographic shifts, economic conditions, and regulatory requirements

Speakers

Chris Winter

Associate Director, Insurance
S&P Global Market Intelligence

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Tim Zawacki

Head of Financial Institutions Research
S&P Global Market Intelligence

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Kevin White

Head of Research, Real Estate, Americas
DWS

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Jamie Woodwell

Senior Vice President of Commercial/Multifamily Policy and Strategic Industry Engagement
Mortgage Bankers Association