The Rebalance : from yield recovery to disciplined deployment

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      <subfield code="a">The Rebalance</subfield>
      <subfield code="b"> : from yield recovery to disciplined deployment</subfield>
      <subfield code="c">David Morrow... [et al.]</subfield>
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      <subfield code="a">Introduction -- Key findings -- Chapter 1: Balancing confidence and risk against a volatile backdrop -- Chapter 2: Private credit moves into the mainstream -- Chapter 3: The private-markets capability gap -- Chapter 4: AI adoption and insurance investment teams -- Conclusion -- Contributors -- Important notices</subfield>
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      <subfield code="a">Global survey of 123 insurance investment leaders managing over US$4 trillion (Mar-Apr 2026). Insurers prioritize returns (86%), capital efficiency (62%) and diversification (42%) amid geoeconomic risk (74%), credit risk/defaults (49%) and rate volatility (48%). Private credit becomes the leading planned allocation increase (57%), surpassing public IG fixed income (48%), with strongest interest among larger and life insurers. Concerns include reduced illiquidity premia, weaker underwriting, rising defaults/PIK, regulation and liquidity. A significant capability gap persists in private markets: only 30% report most in-house capability; governance, manager selection and regulatory hurdles constrain execution. AI adoption in investment functions remains limited (54% not meaningfully using), higher among the largest AUMs, with use cases focused on alternative data, macro and scenario analysis. Emphasis on disciplined deployment, due diligence and resilience.</subfield>
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