Unlocking Performance: The Rise of Third-Party Managers in Insurer Portfolios
In Short
By Matt Reilly, Head of Insurance Solutions, and Lauren Forando, Senior Analyst, Conning
As the evolution in capital markets, regulations and stakeholder requirements increase the complexity of insurance company general account management, insurers have also been making their investment programs more sophisticated. These are some of the reasons insurers have continued to grow their relationships with asset managers (see Figure 1).
Conning’s annual survey of insurance executives and our ongoing dialogue with insurers suggest the outsourcing trend will continue to grow. However, insurers’ demands are changing: they want asset managers to go beyond simply looking for competitive return streams. They want managers to provide customized strategies and unique capital-efficient structures and become true business partners. Insurers are measuring outsourcing success by how it helps them manage efficient investment programs with diversified investment strategies that provide competitive returns, allowing them to free up resources to develop other valuable business capabilities.
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