Separate account assets
KKR & Co. Separate account assets decreased by 1.7% to $3.84B in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 3.5%, from $3.98B to $3.84B. Over 3 years (FY 2022 to FY 2025), Separate account assets shows relatively stable performance with a -2.4% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
Growth in these assets indicates expansion in the insurance-linked asset management business, while a decline reflects market depreciation or client outflows.
Detailed definition
These are assets held in segregated accounts, typically for variable life insurance or annuity products, where the inves...
Peer comparison
Specific to insurance and asset management firms; peers with similar product suites report these as pass-through items.
ins_separate_account_assetsHistorical Data
| Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.13B | $4.16B | $4.18B | $3.90B | $4.11B | $4.22B | $4.12B | $4.13B | $3.98B | $3.74B | $3.84B | $3.91B | $3.84B |
| QoQ Change | — | +0.8% | +0.4% | -6.8% | +5.3% | +2.8% | -2.4% | +0.3% | -3.7% | -6.1% | +2.8% | +1.6% | -1.7% |
| YoY Change | — | — | — | — | -0.6% | +1.4% | -1.4% | +6.0% | -3.1% | -11.5% | -6.8% | -5.5% | -3.5% |
Business Segments
| Segment | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 |
|---|---|---|---|---|---|---|---|---|
| Insurance | $4.22B | $4.12B | $4.13B | $3.98B | $3.74B | $3.84B | $3.91B | $3.84B |
| Total | $4.22B | $4.12B | $4.13B | $3.98B | $3.74B | $3.84B | $3.91B | $3.84B |
Separate account assets at Other Companies
Frequently Asked Questions
- What is KKR & Co.'s separate account assets?
- KKR & Co. (KKR) reported separate account assets of $3.84B in Q4 2025.
- How has KKR & Co.'s separate account assets changed year-over-year?
- KKR & Co.'s separate account assets decreased by 3.5% year-over-year, from $3.98B to $3.84B.
- What is the long-term trend for KKR & Co.'s separate account assets?
- Over 3 years (2022 to 2025), KKR & Co.'s separate account assets has grown at a -2.4% compound annual growth rate (CAGR), from $4.13B to $3.84B.
- What does separate account assets mean?
- Assets held in segregated accounts for insurance products where the client bears the investment risk.