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Daily Update — February 26, 2026

Delivering Power at Scale; AI Governance in Insurance; and 2026 Infrastructure Outlook

Today is Thursday, February 26, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.

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Energy Transition & Sustainability

Listen: Bill Newsom, Mitsubishi Power Americas, on the Race to Deliver Power at Scale

 

Heavy-duty gas turbine demand in the Americas has grown more than sixfold in five years, a clear sign that the power sector is racing to deliver new generation capacity. Bill Newsom, president and CEO of Mitsubishi Power Americas, joined the “CERAWeek Podcast with Atul Arya” to discuss what it takes to quickly build power as electricity demand accelerates. The conversation focused on execution — how manufacturers, utilities and technology partners are scaling equipment supply, project delivery and infrastructure to meet rising demand while advancing decarbonization.


As energy, technology and geopolitics increasingly converge, these questions will be central to the dialogue at CERAWeek 2026. Join us March 23–27 in Houston.

Artificial Intelligence

Alternative investments, AI, affordability top NAIC's agenda for 2026

 

Transparency regarding how life insurers manage their investment portfolios, AI governance and affordability of insurance are the priorities for the National Association of Insurance Commissioners in 2026. Scott White, the association's 2026 president, said issues stemming from alternative investments and private credit remain under scrutiny by other commissioners. These include cases in which a private equity company acquires a life insurer and reallocates its portfolio into more complex, illiquid alternative assets such as real estate and commodities.

 

White also said the potential use of AI by insurers is "very exciting," pointing to its implementation in pricing and predictive rate models and, more recently, in underwriting and fraud detection. Insurers such as Allstate and The Hartford Insurance Group highlighted opportunities for growth from AI during their 2025 earnings calls. Allstate CEO Tom Wilson said during the third-quarter call that generative AI has helped simplify billing and claims operations. Wilson said the next step was incorporating agentic AI, an autonomous system that completes tasks with minimal human oversight, to help the company "reimagine customer value across the entire business model."

Private Markets

Infrastructure Outlook 2026: Infrastructure shifts up a gear to shape the new economy

 

Infrastructure is set for another year of sustained momentum after the sector raised over $250 billion in 2025, excluding coinvestments, from a six-year low of $99 billion in 2024. Our search and mandate data shows that investor sentiment remains strong. Fund managers have seen particularly high demand for strategies such as energy transition and data centers.

 

Assets will further concentrate among the largest funds and fund managers, and new managers will emerge to compete for capital. Infrastructure managers are seeking private wealth capital with the same urgency as their private equity and credit peers, with almost all big-name firms looking to develop new products in 2026. The appeal of the asset class as a fixed-income substitute and portfolio diversifier has driven a doubling of allocator searches over the past two years. In particular, open-ended and evergreen funds, as well as thematic energy transition strategies, are increasingly offered by investment consultants and outsourced chief investment officer firms.

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