What is funding beyond banks good for? “Absolutely nothing” is not the right answer
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EIOPA article arguing for a greater role for non-bank financial intermediation in meeting EU investment needs, with insurers as natural providers of private credit. It warns that this expansion requires microprudential and financial stability monitoring and a common definition of private credit.
Key points
- European insurers held over €500 billion in private credit at end-2025, about 5% of their assets
- Around 70% is in European real estate and mortgages
- There is no common definition of private credit, which complicates comparisons
Who is affected
Insurers, private credit managers and supervisors
Plain-language version
EIOPA, the EU watchdog for insurers and pension plans, argues that insurers should lend more directly to companies and projects without going through banks (private credit) to help fund Europe. By the end of 2025 they already had over 500 billion euros lent this way, 5% of their assets, mostly in property and mortgages. It wants this monitored and clearly defined.
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Summary produced with artificial intelligence from the official publication. It may contain errors: always check the original document.
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