The number of insurers using third-party investment managers is rising quickly, according to data 
compiled by a consulting firm.
compiled by a consulting firm. Insurance Asset Outsourcing Exchange reports that a record $28.5 billion was outsourced during the second quarter for 2009.
The Louisville, Ky., company cites the credit crisis as a catalyst for self-examination by insurance CEOs and CIOs. They have become more open to change that outside expertise and resources of an investment manager or consultant can make a difference.
During that time, the average mandate size increased from $157 million in 2007 to $352 million over the first half of 2009, the report said.
The report, "Insurance Asset Tracker Outsourcing Activity Update," is available free to insurance company investment officers who can request it through the Exchange Web site.
