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Laxman Pai, Opalesque Asia: Outsourced general account insurance assets under management rose to a record $4.5 trillion globally at the end of 2024, up 24% from the year before, revealed a study.
According to the latest annual survey by Clearwater Analytics in partnership with DCS Financial Consulting, of that total, insurance assets outsourced to private markets strategies surged 34% from the year before to $806 billion.
A decade ago, less than $50 billion was reported in this segment. Private asset class managers are entering the insurance space and insurers are investing. This shift toward private markets demonstrates insurers' search for yield and portfolio diversification.
While private assets are on the rise, public assets remain the foundation of an insurer's multi-asset class portfolio. Eighty-three percent of participating managers reported public asset class strategies, with many of them also offering private asset classes. Many now provide both, requiring enhanced operations and robust analytical capabilities.
Over 80% of participating managers now provide customized portfolio reporting, cash flow projections, accounting analytics, and regulatory assistance-all powered by advanced technology solutions. AI-driven analytics are gaining traction as data-driven decision-making becomes essential.
Investment consultant assets under advisement also grew significantly to $2 trillion, the study pointed out.
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