Study: 6% Insurance Companies Interested in Cryptocurrencies

American investment banking giant Goldman Sachs conducted a survey among global insurance companies and it turned out that 6% of them invested or want to invest in cryptocurrencies.

Mike Siegel, head of insurance asset management at Goldman Sachs, said the survey involved 328 financial and investment directors of insurance companies around the world. Together, these companies make up about half of the global insurance industry. And 6% respondents expressed interest in investing in digital assets.

“This is the first time we have asked about attitudes towards cryptocurrencies. I thought there would not be a single interviewee interested in digital assets at all, but I was surprised. An impressive 6% respondents said they have either already invested in cryptocurrencies or are considering doing so,” Siegel said.

Most of all, representatives of American insurance companies are interested in investing in digital assets - 11%. In Asia, the interest is less pronounced - 6% respondents answered in the affirmative. And the Europeans are the most conservative - only 1% of those surveyed declared their interest in cryptocurrencies. At the same time, at the moment, about 2% insurance companies have invested in cryptocurrencies.

“We asked some additional questions and realized that the leadership of companies interested in cryptocurrencies is doing this to understand the market and infrastructure. At the same time, if cryptocurrencies become a means of payment, then they want to be able to sell insurance policies for digital currency and accept contributions in cryptocurrencies, as they do now in fiat currencies,” Siegel added.

According to the study, 16% respondents believe that cryptocurrencies have no prospects and will give the least profit over the next year. Earlier, Bitstamp platform analysts said that most investors are waiting for traditional assets to be crowded out by the rapidly expanding cryptocurrency market.