FIG PE: is insurance sector significantly bigger than banks?

I have been reading some posts about FIG focused PE/HF. Looking at a lot of their portfolios, it looks like they are more heavily focusing on insurance vs banks (of course fintech is obviously hot, so let's skip that for now). Any thoughts on this? True or not true? Makes sense from regulatory perspective (holding majority position forcing a firm to become a bank holding company) but just wanted to double check. Also, wondering if that makes exits from insurance vertical easier versus banks vertical.