Deutsche Bank today announced that its Insurance Asset Management business has once again been ranked the world’s largest manager of unaffiliated general account assets. According to the midyear 2011 Insurance Asset Management (IAM) Survey, conducted by Insurance Asset Manager LLC and released last week, Deutsche Insurance Asset Management (Deutsche Insurance) is the world’s largest manager of unaffiliated general account insurance assets, with $213.9 billion under management as of June 30, 2011.
The IAM survey indicates that the trend of insurance companies outsourcing the management of their balance sheets to third party asset managers remains strong. Outsourced general account assets now total $1.21 trillion, an increase of 5.5% from December 2010.
“The continued low interest rate environment coupled with 2011 being the second most costly year for insured cat losses, is posing an enormous challenge for insurers,” said Randy Brown, Global Head of Deutsche Insurance Asset Management. “As our clients look to meet the gap in their earnings and enhance returns, we are seeing strong interest in diversifying from the traditional lower-yielding, lower-risk asset classes.”