Life insurance asset management

Source: AUM as of December 31, 2023.

*2024 edition of the Insurance Investment Outsourcing Report. DWS ranks no. 5 overall for AUM managed globally for third-party insurance general accounts. No fee was paid by DWS to participate.

USD $180.6 billion/EUR €163.4 billion under management in General Account assets

Source: DWS as of December 31, 2023. Totals may not sum due to rounding. For illustrative purposes only.

Spectrum of investment solutions

Insurance fixed-income is at the core of our clients’ investment programs and our insurance asset management platform as well. A dedicated Insurance Fixed Income Portfolio Management team can be complemented by a broader set of investment capabilities across asset classes and risk spectrum, in both active and passive structures.

DIGITAL SOLUTIONS Customized and model portfolio development
PASSIVE Xtrackers ETFs & Institutional passive mandates \| Passive “building blocks” for the four steps above
ESG Unique ESG Engine** \| Investment overlay and risk management \| Responsible investment opportunities

As of December 31, 2022

*Source: Fondspolicen Spezial, Fonds Professionell percentage of market share, 2022

** Source: DWS developed an engine, which is our proprietary software that aggregates data from multiple third-party commercial providers of ESG data, as well as data from several non-governmental organizations, to arrive at various ESG solutions (e.g., assignments of ratings to investment positions and sovereigns). The ESG engine is operated by DWS International GmbH, a German affiliate of DIMA, a U.S. registered investment adviser. DIMA's portfolio managers have access to ESG solutions produced by such German affiliate and may use such ESG solutions in managing client accounts. Please see Part II of the adviser's Form ADV for additional information regarding ESG issues.

Lifecycle of an insurance program — The three disciplines form a dynamic relationship

DWS insurance team members, from Solutions and Structuring, Coverage and Relationship Management, to Portfolio Management and Investment Specialists, actively collaborate to deliver insurers a cohesive and comprehensive investment experience. While the approach can vary by region, the objective is always the same—to deliver a bespoke investment program based on an insurer’s unique risk and return preferences.

Structuring & insurance analytics

Portfolio management

Insurance coverage & relationship management

Enterprise Assessment

Portfolio Construction

Portfolio Analytics

Engage with insurance company to define goals including conducting appropriate analysis (SAA/ALM)
Accounting, regulation and capital management considerations examined
Industry analysis: trends and peer comparisons

Implement either Strategic or Tactical investment program
Customized Insurance Fixed Income is at the core of our allocation focus

Depth of Asset Class Capabilities

Ability to complement high-grade fixed-income with multi-asset solutions in an insurance context that includes non core bond asset classes, equity, alternatives, passive, alternatives, ESG and cash

Access to, and interaction with, investment management teams

Access to proprietary tools and systems developed to provide better analytics and understanding of an investment program considerations
Portfolio projections including cash flow and income

Ongoing bespoke Risk Management Reporting

Establish Investment Framework

Quantitative Modeling

Utilize optimization tools and techniques to evaluate asset class selection
Develop Strategic Asset Allocation program
Integrated with Multi-Asset team for portfolio construction

DWS’s insurance asset management platform partners with insurers of all sizes and types to provide end-to-end solutions across strategic asset allocation, insurance advisory, and portfolio and product structuring.