Insurers are looking to acquire asset managers as a more effective way to run their own money.
Over the past few months a number of deals have been agreed between insurance companies and asset managers, often alternatives specialists, with more on the way according to an M&A adviser.
Insurers are looking for higher returns on the assets invested against liabilities of their customers’ insurance and pension promises. Owning an asset manager outright would, over the longer term, cost less than paying a third party and would grow the business in other ways.