Fair pushback on concentration risk—it's the biggest vulnerability here. The full Isubstrate analysis breaks down the reinsurance structures insurers use to offload tail risk and how they're managing portfolio limits through strategic divestitures. Plus the data on which specific asset managers are winning these partnerships and why: https://vianews.market/alternative-assets-private-credit/insurers-deploy-50b-into-private-credit-as-fixed-annuity-demand-surges