“You’ve got market volatility, geopolitical uncertainty marrying with these long-term demographic structural tailwinds,” he said. “There’s a lot of risk, we are in the risk business, and risk is a double-edged sword for us.”
Moncreiffe added that private credit makes up less than 5% of its total investments through more than 1,600 loans.
The insurer’s annualised premiums rose 30% to US$6.5 billion last year, he said, and HSBC research showed insurance has surpassed wills as the preferred mechanism for managing estate planning. “The key trigger for legacy planning is macroeconomic and market volatility.”
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