Cody McGrath 
According to a Goldman Sachs survey, many of the crypto insurers are from the United States.
Goldman Sachs, the Wall Street banking giant, recently released data from its annual insurance survey. Surprisingly, the survey included a view on cryptocurrencies for the first time.
According to a survey of nearly 328 top executives from insurance firms, 6% are already invested in cryptocurrency or are looking to gain exposure. These respondents represent nearly half of the $26 trillion global insurance industry.
Surprisingly, the majority of the insurers interested in crypto are from the United States. According to the report, “the vast majority of insurers are not considering investing in cryptocurrencies.” “American insurance companies are slightly more interested.” Mike Siegel, Goldman Sachs’ global head of insurance asset management and liquidity, stated:
“We had respondents that represented over $13 trillion worth of assets, which is about half of the global industry’s assets. So, we think that the survey is very representative of what the industry is thinking.”
However, cryptocurrencies were not the most popular choice. They were ranked fifth, following private equity, commodities, and emerging market equities. Surprisingly, they outperformed corporate loans, traditional banking loans, finance firms, and debt funds. Even Wall Street titan JPMorgan recently stated that they would prefer to invest in cryptocurrencies over real estate.
According to a recent Goldman Sachs survey, insurance companies are interested in learning more about cryptocurrency and the infrastructure that supports it. Siegel stated:
“If this becomes a transactable currency, they want to have the ability down the road to denominate policies in crypto. And also accept premium in crypto, just like they do in, say, dollars or yen or sterling or euro”.
It will be interesting to see if insurers begin accepting cryptocurrency payments shortly Of course, how regulatory policies develop in the United States and around the world will have an impact on this. While insurers have been wary of cryptocurrency, they are bullish on the underlying blockchain technology. The use of blockchain will only increase transparency in this industry.