Top European insurers bet on private equity
Allianz and Axa had a combined €29 billion at end-2019
Many of Europe’s largest insurers added to their private equity portfolios over 2019, regulatory data shows.
Across the nine largest insurers headquartered in the European Union by market capitalisation for which data could be found, allocations to private equity increased by 15% on average.
Dutch insurer Aegon increased holdings the most percentage-wise, by 45% to €83 million ($93 million). Allianz followed with a 34% increase to €15.6 billion and AXA with 26% growth to €13.3 billion.
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