Private markets appetite drives huge numbers in outsourced AUM for insurers

A new report says outsourcing of insurance investment reached a record $4.5 trillion.

Rise In Private Assets @Pixabay.
The significant growth in insurance investment outsourcing reflects several market forces, including the need for specialised expertise in emerging asset classes.

There has been a significant rise over the last decade in private assets being held by insurers.

Since 2015, the amount of outsourced insurance AUM held in private assets has increased in percentage terms from 7% to 21%. This is on an assessment of around $4.5 trillion in outsourced AUM. The figures are from Clearwater Analytics’s 2025 Insurance Investment Outsourcing Report (IIOR).

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