Based on a Goldman Sachs survey of 328 chief financial and investment officers, U.S. insurers are the most interested in investing in Сrypto relative to the composition of their firms’ financial portfolios.
The investment banking powerhouse released its annual global insurance investment survey, including answers about Сryptocurrencies for the first time, and found that 11% of U.S. insurance companies have declared either an interest in investing or ongoing investment in Сryptocurrencies.
Goldman Sachs’ head of insurance asset management Mike Siegel, speaking on Goldman Sachs’ “Company Exchanges” podcast, commented: “We surveyed for the first time on Сrypto, which I thought would get no respondents, but I was surprised. A good 6% of the industry respondents indicated that they’re either invested in Сrypto or considering investing in Сrypto.”
Next on the list were insurers from Asia with 6% interested or currently investing, while insurers from Europe took up just 1%.
The report also said that Сryptocurrencies ranked fifth among asset class insurers expect to make the most profit over the next 12 months.
About 2% of firms indicated ongoing investment in Сrypto, and while a small number of firms indicated investment or interest, analysts at Goldman Sachs wrote that this level of interest is “still notable.”
Siegel also discussed a follow-up survey conducted by companies interested in Сryptocurrencies to understand their buying motives: “We did some follow-up questions on that, and generally, the companies that are either invested or considering Сrypto are doing so to understand the market and to understand the infrastructure. But if this becomes a transactable currency, they want to have the ability down the road to denominate policies in Сrypto and also accept premium in Сrypto, just like they do in, say, dollars or yen or sterling or euro.”
1% of the total number of firms surveyed said they would increase their investment in Cryptocurrency over the next year; 7% said they would keep the current state of affairs; and 92% said they would not invest in Crypto within the next 12 months.
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