European Insurance Industry 2021
Changing Investment Needs Are Generating Opportunities
Evaluate and Act on Opportunities to Service European Insurers
- Analyze insurers' approaches to climate change risks and opportunities, with a focus on how climate change considerations are included into their strategic asset allocation (SAA) decisions
- Gain a comprehensive comparison of life, non-life insurers’, and reinsurers’ investment activities and outsourcing across the major European insurance markets
- Explore the evolution of strategic partnerships and pricing of such partnerships
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Summary
From asset managers to broad coverage of insurers, this report provides a comprehensive overview of Europe’s insurance asset management landscape. It details the products and services that will become necessary to do investment business with Europe’s insurers and the future of asset management outsourcing.
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A Note from the Author
Which General Account Insurance Markets Will Offer the Most Opportunity for Asset Managers?
Justina Deveikyte, CAIA
Director
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Justina Deveikyte, CAIA
Director
Justina joined Cerulli Associates in February 2014 and heads the European Institutional Asset Management research practice. In her role, she is responsible for all research activities relating to institutional investors, the firm’s analysis of alternative investments, the environmental, social, governance (ESG) section, and all data-science-based activities. She also contributes to multiple strategic consulting engagements and The Cerulli Edge series.
Justina is the lead author of several Cerulli reports, covering insurance, retirement, ESG, and alternative investments. Throughout her career, she has successfully developed partnerships with industry associations and has presented at several conferences and events across the Europe.
Prior to joining Cerulli, Justina was a Financial Manager and Global Analyst at Global Food Consulting; she previously has provided professional advice on banking products, including unit-linked insurance and third-pillar pension products at SEB Bank Group.
Full biography here.
As European insurers continue to look to riskier and alternative assets in search of better yields, they will seek external investment expertise. This will increase opportunities for asset managers across the region’s insurance general account market, which was estimated to be worth €8.5 trillion (US$10.4 trillion) as of 2020. Not only will insurers continue to look beyond their internal teams and affiliated managers, they will also seek the skills of managers with specialties in nontraditional and international investment.
Cerulli’s survey of asset managers found that around 30% of respondents expect to attract significant business from UK and German general account insurers over the next 12 to 24 months. In comparison to last year, asset managers are more optimistic about their prospects in the German insurance market.
Within traditional fixed income, emerging market debt will see the most demand from European insurers over the next 12 to 24 months: 42% of the European insurers Cerulli surveyed plan to increase their allocations to the asset class.
Learn what your firm can do to win new insurance assets with our research, European Insurance Industry 2021: Changing Investment Needs Are Generating Opportunities. Not only do we detail insurance asset addressability, but we also cover the competitive landscape and fees, outsourcing and partnerships, and rising demand for climate solutions.
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