76% of insurers plan to increase private markets allocations, BlackRock survey shows
BLK•BlackRock's October 27 survey found 76% of insurers plan to increase private-market allocations over the next 12 months, down from 94% in 2025. Inflation was the leading economic concern, cited by 62%.
1. Allocation plans
BlackRock's October 27, 2026 insurance survey found that 76% of insurers plan to increase private-market allocations over the next 12 months, compared with 94% in 2025. More than 40% already allocate over 15% of their portfolios to private markets, and 41% target increased allocations to private debt.
2. Risks and access
Inflation was the leading macroeconomic concern, cited by 62% of insurers, while recession concerns fell to 18% from 35% in 2025. Risk appetite remained steady, with 82% maintaining their risk profile; among them, 57% said opportunities were insufficient to justify taking on more risk. External asset management use is set to rise among 49% of insurers, and 74% plan to access private debt through separate accounts or bespoke mandates.
