Investment funds affiliated with governments outside the United States should consider buying insurance companies.

Consultants in the New York office of Deloitte L.L.P. give that advice in an analysis of how insurance company acquisitions could fit in sovereign wealth funds’ portfolios.

In addition to being good investments, acquired insurance companies could help other countries gain both financial clout and the systems needed to run modern, efficient insurance companies, the consultants write.

The consultants predict sovereign wealth funds in China and Middle East could be particularly active in making insurance company deals.