Global insurer Zurich Insurance Group is seeking to boost its allocation to real estate in the markets in which it is active and may expand its scope further to countries like Australia and Japan.
Global insurer Zurich Insurance Group is seeking to boost its allocation to real estate in the markets in which it is active and may expand its scope further to countries like Australia and Japan.
Alessandro Bronda, head of global real estate investment strategy at the Swiss firm, told PropertyEU at MIPIM that it was looking to increase its allocation in its current markets, which include the UK, US, Switzerland, Germany and Malaysia.
He said: ‘We have a bias towards offices and residential, and we're seeking to have superior risk-adjusted returns relative to our liabilities so we are looking for good-quality assets - core, core plus - in these geographies.
‘Our plans are to increase our allocation for the geographies I mentioned. We're also considering investing in new markets in order to improve the degree of global diversification in our real estate portfolio.’
Zurich Insurance has a real estate portfolio valued at approximately $12 bn (€11.3 bn), which equates to an allocation of 5.5%.
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