The value of consultant-advised global insurance assets has reached nearly $550bn, with North American insurers accounting for $300bn of the total, according to The Insurance-focused Investment Consultant Compendium published by The Insurance Asset Outsourcing Exchange.
The $300bn US/Canada figure translates to 200 of 268 insurance companies around the world that use top consultants for asset management advice. The 14 consultants featured in the directory include global firms such as Mercer and strictly insurer specialists such as Strategic Asset Alliance (see table).
"Relative to other institutional markets," said David Holmes, who heads the exchange, "consultants to insurance companies require a different, added skill set that includes deep knowledge of the regulatory environment, thorough understanding of insurers' needs well beyond the investment portfolio, and insurance-focused analytic capabilities."