Insurance
Long-duration capital pools; mostly constrained.
The metrics
- Posture
- expanding — 4 of 7 (expanding 4 · consolidating 3) 7 members →
- Capital · available
- across 7 members — open each for the figure + sources 7 members →
- Capital · operating
- across 7 members — open each for the figure + sources 7 members →
- Capital · deployed
- across 7 members — open each for the figure + sources 7 members →
- Capital · in
- across 7 members — open each for the figure + sources 7 members →
- Capital · out
- across 7 members — open each for the figure + sources 7 members →
- Optionality
- across 7 members — open each for the figure + sources 7 members →
- Gravity
- across 7 members — open each for the figure + sources 7 members →
No tagged moves for this pocket this week.
Members 7
capital ~$550B+ investable (cash+T-bills $381.7B + float $171B FY24); market cap ~$1.1T is a separate label
- opt
- free — Buffett/Abel, no mandate; the largest true dry powder …
- grav
- ~$371B/yr GROSS — not thin (real-economy conglomerate, …
New 09-02: Greg Abel's first on-record AI comments since the Q2 13F, and they add a leg this entry has never carried — Berkshire's OWN …
capital ~$2.7T AUM commanded (€2.512T, owns PIMCO); own general account ~$810B; market cap ~$184B is a separate label
- opt
- constrained — Solvency II; ~€1.8T third-party fiduciary
- grav
- ~$202B/yr GROSS + PIMCO bond-market power
Solvency-II-constrained capital pool; owns PIMCO for bond-market reach.
capital ~$1.95T group assets (incl. bank); insurance portfolio ~$848B; market cap ~$144B is a separate label
- opt
- constrained — NFRA C-ROSS + state-steered (Alibaba-style)
- grav
- ~$133B/yr GROSS + 240M-customer tech/health ecosystem
State-steered Chinese insurer with the strongest insurtech-AI angle (240M-customer ecosystem).
capital ~$958B assets (pure life general account); market cap ~$169B is a separate label
- opt
- locked — most state-directed; majority state-owned
- grav
- ~$140B/yr GROSS premium (<< the asset stock)
New 08-16: still quiet — a fourth consecutive check (adding 08-16 to 08-09/08-14/08-15) finds nothing. Board-pass note: China Life carries …
capital PGIM $1.512T AUM + general account ~$450-500B; market cap ~$42B is a separate label (commands ~36x own market …
- opt
- constrained — RBC; PGIM fiduciary
- grav
- ~$70B/yr GROSS
New 08-16: still quiet — a fourth consecutive check (adding 08-16 to 08-09/08-14/08-15) finds nothing. Board-pass note: Prudential carries …
capital ~$742B AUM / general account ~$480B via MIM; market cap ~$61B is a separate label
- opt
- constrained
- grav
- ~$77B/yr GROSS + group-benefits reach
New 08-16: still quiet — a fourth consecutive check (adding 08-16 to 08-09/08-14/08-15) finds nothing. Board-pass note: MetLife carries …
capital ~$645B assets (mostly general account); no market cap (MUTUAL)
- opt
- constrained — JGB liability-matching; policyholder-bound
- grav
- ~$40B/yr GROSS + systemic macro-gravity (a top global …
Policyholder-owned Japanese mutual; systemic macro-gravity as a top cross-border bond buyer.