Deutsche Insurance Asset Management (Deutsche Insurance) has regained the no. 1 spot as the world’s largest global insurance asset manager. According to Insurance Asset Management (IAM) Surveys, Deutsche Insurance managed USD 213.9bn in general account assets, edging out the second-place manager by little less than USD 4bn. Data is as of June 30, 2011, the most recent industry rankings.
Six months earlier Deutsche Insurance managed USD 202.9bn and was second on the list (as of Dec. 31, 2010). Both Deutsche Insurance and BlackRock are the industry’s only two asset managers with more than USD 200bn in assets under management, and more than USD125bn separates the second and third place finishers.
IAM indicated that the outsourcing trend remains strong in the industry, with June 30, 2011, general account assets now totaling USD 1.21tr—an increase of USD 63bn. Included in the survey was a perspective by Michael Earley, senior insurance strategist at Deutsche Insurance, who described the continued low interest rate environment as “the single largest challenge.”