Private market debt, which was framed as a flexibility exercise during the inflation shock of 2023, has now become part of a permanent dual-track operating model where insurance holdings are being engineered as explicit private-for-yield/public-for-liquidity portfolios.
Insurers Hardwire Private Yield, Shift Public Assets to Liquidity “Infrastructure”: BlackRock
Insurers are no longer “rotating” into private markets — they are structurally rewiring around them, BlackRock’s 2025 survey makes clear.
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Data Centers Will Delay the AI Catastrophe Kill Switch Unless Operators Face the Cost
Data centers facing a rogue AI incident have rational financial incentives to delay pulling the internet kill switch, and the only thing likely to change that calculus is liability.