March 12, 2019
Conning—Insurers and Reinsurers Pursued Mergers and Acquisitions to Focus on Core Business in 2018
HARTFORD, CT, March 11, 2019—Insurers and reinsurers executed mergers and acquisitions in 2018 to shed non-core business operations or acquire complementary entities, according to a new study by Conning.
“Insurer and reinsurer mergers and acquisitions in 2018 were driven by the need to respond to multiple pressures,” said Scott Hawkins, a Director, Insurance Research at Conning. “Competition, changes in accounting and regulatory methodologies, the need to improve technology capabilities, and the search for greater profitability all contributed to drive mergers and acquisitions. Supporting M&A in 2018 was the continued access to capital both within and external to the industry.”
The Conning study, “Global Insurer Mergers & Acquisitions in 2018: Focusing on the Core” tracks and analyzes both U.S. and non-U.S. insurer mergers and acquisitions activity across property-casualty, life-annuity and health/managed care insurance sectors. Specific transactions are detailed, and trends are analyzed across all sectors.
“Carriers are building scale to better compete and removing drags on their balance sheets by exiting non-core business operations,” said Steve Webersen, Head of Insurance Research at Conning. “We anticipate 2019 M&A activity levels to keep pace with recent years as competition in a low growth environment remains strong and insurers continue to pursue strategic realignment to respond.”
“Global Insurer Mergers & Acquisitions in 2018: Focusing on the Core” is available for purchase from Conning by calling (888) 707-1177 or by visiting www.conningresearch.com.
Conning (www.conning.com) is a leading investment management firm with approximately $133 billion in global assets under management as of December 31, 2018.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, award-winning risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
*As of December 31, 2018, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited, Cathay Securities Investment Trust Co., Ltd. (“SITE”) and Global Evolution Fondsmæglerselskab A/S and its group of companies (the “Global Evolution Companies”). The Global Evolution Companies are affiliates of Conning. SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning controlled entities.