Friday, March 23, 2018

Global insurance M&A hits US$49 billion in 2017

M&A transaction volume in the global insurance sector reached US$49 billion for 2017, according to a report released by the reinsurance division of Willis Towers Watson showed that.

The deal volume was on a par with the figure from 2016, despite the global reinsurance and insurance market weathering one of its worst loss years on record.

In 2017, catastrophe loss estimates reached US$136 billion. The catastrophe losses of 2017 are coinciding at a time when profitability in non-catastrophe lines is constrained and prior-year reserve releases are slowing, according to the report.

For the coming year, the Willis Re report said evolving cyber threats are a major concern for the industry. James Kent, global CEO of Willis Re, says the 2018 renewal season will be a disappointment for many reinsurers in terms of the rating levels achieved.

“However, this must be balanced against the ability of the market to provide buyers with stability of capacity at reasonable prices with an orderly renewal process, which demonstrates the growing advancement of the market,” he added.


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