Skip to Content Skip to Menu Skip to Footer

Daily Update — May 11, 2026

Climate Resilience for Insurers; AI Deal Activity; and Private Credit Valuations Under Pressure

Today is Monday, May 11, 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.

Energy Transition & Sustainability

Listen: Climate Week Zurich: How one of the world's largest insurers is building climate resilience

 

S&P Global Sustainable1’s “All Things Sustainable” is the official podcast of the inaugural Climate Week Zurich, which took place May 4–9. In the third episode of this series, Zurich Insurance Chief Sustainability Officer Linda Freiner joined to discuss how the insurance industry is addressing climate change. Freiner said that climate mitigation and adaptation are needed to build systemic resilience amid compounding global crises.

 

“You can no longer look at climate risk on its own, or geopolitical risk on its own, or social risk on its own. They're all interconnected and they're all compounding,” Freiner said. “As an insurance company, it's our job to help our customers navigate those risks and build the right resilience measures in place to be able to withstand the shocks.”

Artificial Intelligence

Private equity: AI deals

 

AI-related deal activity in North America accelerated from 2023 onward to reach new heights, with the share of AI deals about doubling over the past two years. There were 589 AI-related transactions in 2025, up 57% year over year from 375. Between 2021 and 2025, the number of AI deals totaled 1,634 transactions, of which the software sector accounted for 72%.

 

Momentum is also building within professional services, financial technology, industrial goods and IT services. Within software, business intelligence and process automation remain the largest subindustries, reflecting demand for data-driven tools that boost efficiency. Healthcare analytics, human resources and workforce support systems, and marketing software are also growing, showing AI’s broader use in business operations and customer engagement.

Private Markets

Private Credit Valuations Under Pressure: How to Approach Standard Loan Marks

 

Private markets have long been considered less active than public markets, with fewer price and valuation updates. However, as private credit expands and faces a volatile macroenvironment, valuations are becoming more visible, frequent and consequential.

 

The market is testing old assumptions. Volatility from technology disruption, policy uncertainty and geopolitical shocks is exposing weaknesses in corporate credit. Headline default rates may understate real stress, especially when “selective defaults” and liability management exercises such as payment-in-kind features and maturity extensions are considered. Amid lower liquidity or rising redemption pressure, valuations are now central to risk reassessment for limited partners, boards, regulators and auditors.

In case you missed it