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Article: Some discover a silver lining; Insurance asset outsourcing expected to remain a strong growth area for firms.(News)
- Article from:
- Pensions & Investments
- Article date:
- December 22, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Timothy Inklebarger
Insurance asset management outsourcing could be a ray of sunshine for investment managers in the current financial storm, according to industry analysts.
General account assets outsourced by insurers grew 11% in 2007, to a record $906 billion, according to Alex McCallum, editor of Insurance Asset Manager, Exeter, N.H.
Financial services consultant Patpatia & Associates, Berkeley, Calif., put the 2007 total of outsourced general account assets at $989 billion, up 9.8% from a year earlier, while money management consultant Eager, Davis & Holmes, Louisville, Ky., put the estimate at $906.46 billion, up 12.4%.
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