KKR & Co, Inc the asset management firm with main business line private equity, with real estate at second place and private credit at third is staking its future on a Warren Buffett's Berkshire Hathaway insurance structure like strategy, which can be derived from careful analysis of KKR & Co's 2023 annual financial results, in Wolfteam Ltd.'s view.
KKR got 5.81 billion USD in revenue fees from asset management and 8.70 billion USD from insurance operations. Which means KKR is actually an insurance holding, that is KKR is using the stable insurance premiums to get additional income by reinvesting them. And with any insurance firm, KKR's net financial result is depending heavily on how KKR's reinvests its steady income stream of insurance premiums.
2.340 billion USD from the management fees come from the private equity division of KKR's business, 867.497 million USD from real assets, real estate revenue that is and 998.504 million USD come from private credit and liquid strategies. KKR gets 5.378 billion USD of insurance premiums, which after net cost of insurance become 817 billion USD in revenue.
KKR is obviously trying to develop along the lines of the Warren Buffett controlled insurance and industrial conglomerate Berkshire Hathaway by using insurance premiums to support the private equity asset management investments' carry.
Whether KKR will start more quickly approaching Berkshire Hathaway's 946 billion USD market capitalization depends to a large extent to managements both strategy and tactics to plowing the insurance premiums back into the operating private equity, real assets and credit operating strategies.
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