In this publication, we begin by looking back at how those key underlying drivers and supporting trends have developed and the resulting impact on the sector. In summary, our predictions proved largely accurate and M&A has certainly played a critical role in enabling insurers to pursue their strategic ambitions.
We began 2015 with expectations of considerable consolidation within the insurance sector. That prediction played out, particularly in terms of crossborder M&A and transactions driven by regulatory change or insurers’ focus on efficiency and service capabilities.
We saw high levels of activity driven by insurers seeking new or expanded opportunities in select high-growth markets in Asia and Africa, although high valuations acted as a deterrent. The year was also marked by an impressive volume of reverse deal flow as acquirers from Asia, particularly China and Japan invested in mature markets, such as Europe and the US.
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