Family office investors are increasingly leaning into allocations to the insurance sector as they seek out sources of diversification and relatively uncorrelated returns, something that investment giant KKR has been doing itself, according to the firm’s Henry McVey.
For KKR, insurance is an area of investment designed to expand its business from a strategic standpoint, Henry McVey, CIO of KKR’s Balance Sheet and Head of Global Macro and Asset Allocation at the firm explained.
Having surveyed more than 75 Chief Investment Officers (CIOs) of family offices, who oversee over $3 billion dollars in assets, on average, McVey and KKR note that, when it comes to an attraction to returns from the insurance and reinsurance market, these investors are following in the firm’s footprints, to a degree.
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