Recently, BlackRock released the 2024 Global Insurance Report which shows that global insurance companies will focus on increasing allocations to the private markets, clean energy infrastructure, and utilizing innovative technologies in 2024. In the Asia-Pacific region, 96% of respondents plan to increase investments in private assets in the next two years, especially in various private credit categories including opportunistic private credit (44%), infrastructure loans (40%), private placements (35%), and direct loans (35%). Additionally, 62% of insurance companies in the Asia-Pacific region will focus on investing in clean energy infrastructure to achieve low-carbon transformation goals, with two main investment themes being clean energy such as wind and solar energy, and energy storage technologies such as batteries. In terms of utilizing innovative technologies, global respondents believe that technology applications will help address challenges in private asset modeling (53%) and regulatory capital integration (51%). Kimberly Kim, head of BlackRock's Asia-Pacific Financial Institutions team, stated that insurance companies face unique challenges when evaluating strategic asset allocations for alternative investments, including regulatory issues, liquidity demands, and higher capital requirements. A key part of BlackRock's collaboration with insurance clients is to assist them in addressing these short-term complexities while striving for optimal long-term investment portfolio outcomes.