Europe’s asset management bosses have set their sights on winning insurance clients, investing in talent and infrastructure in the hope of attracting new revenue.

Their target is a global insurance sector with assets under management of £14 trillion at the end of 2011, according to a 2013 Deutsche Bank report. The UK alone is the third largest insurance market with £1.15 trillion, which is about 22.1% of all UK assets under management, according to the Investment Management Association.