BlackRock and Deustche Asset & Wealth Management are the largest outsourced insurance asset managers, but they may not hold that rank for long.
Asset management king BlackRock continues to dominate outsourced insurance, with $240 billion in global non-affiliated general account assets under management, as of the end of 2014, reports Pensions & Investments. Deutsche had $194.7 billion in insurance assets at the end of December. BlackRock assets grew by 15.5% year-overyear. Deutsche assets 3.3% declined.
Insurers are pushing more of their assets to outside managers. Worldwide, assets under management rose 10.9% in 2014, to $1.412 trillion at the end of the year. Other managers have started eating BlackRock and Deutsche’s shares. Goldman Sachs Asset Management grew 21.8% in 2014 to $11.63 billion. Guggenheim Investments was up 19.4% to $101.42 billion, and Wellington Management was up 12.7% to $96.51 billion. Guggenheim holds the most U.S. domiciled insurance assets, surpassing BlackRock.
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