BlackRock and Deutsche Asset & Wealth Management continue to sit atop the rankings of the largest managers of outsourced insurance company assets, said a survey from the Insurance Investment Outsourcing Report.
BlackRock reported $240 billion in global non-affiliated general account assets under management as of Dec. 31, up 15.5% from the previous year.
Deutsche Asset & Wealth Management reported $194.7 billion in AUM as of Dec. 31, down 3.3% from $201.3 billion the previous year.
The rest of the top five is: Goldman Sachs Asset Management, at $111.63 billion, up 21.8% from the previous year; Guggenheim Investments, $101.42 billion, up 19.4%; and Wellington Management Co., $96.51 billion, up 12.7%.
Overall worldwide assets under management rose to $1.412 trillion as of Dec. 31, up 10.9% from the year before.
While BlackRock and DeAWM still command the largest market share of the insurance outsourcing money management world, the two together saw their share drop slightly, making up 30.7% of the total assets under management as of Dec. 31, down from 32.1% the year before.
Among managers of U.S.-domiciled non-affiliated general account insurance assets, Guggenheim Investments took the top spot, supplanting BlackRock, reporting $100.6 billion in AUM, up 18.9% from the year before. BlackRock's U.S.-domiciled AUM dropped slightly to $94.1 billion, down 2.6% from $96.6 billion the year before.
A Pensions & Investments survey last year reported companies outsourced nearly $2.8 trillion to the 50 largest non-affiliated insurance money managers as of March 31, 2014, a 54% increase from four years earlier.
The Insurance Investment Outsourcing Report is jointly published by InsurerAM News, Insurance Asset Outsourcing Exchange and consulting firm Insurance AUM.