Insight Report: M&A in the Global Insurance Industry

Publisher Name :
Date: 09-Sep-2016
No. of pages: 43

Synopsis

Timetric's 'Insight Report: M&A in the Global Insurance Industry' analyzes M&A activity in the insurance industry worldwide. The emergence of M&A waves in the insurance industry has contributed significantly to the global M&A environment. An increasing number of high-value deals led to a 176% rise in total deal values from US$74.2 billion in 2014 to US$204.5 billion in 2015. Challenging economic and market conditions are impacting all insurance operators, including brokers and service providers, and depressed premium growth and low investment returns are forcing insurers to engage in M&A activity.

The report also discusses in detail the trends and drivers which affect M&A activity in the global insurance industry. A number of factors characterize the development of M&A waves in the insurance industry. The changes in the business environment such as low interest rates, regulatory developments, changing customer preferences, the availability of surplus capital, and technological advances are a driving force behind M&A activity.

Summary

Timetric's 'Insight Report: M&A in the Global Insurance Industry' conducts a detailed analysis of M&A activity in the insurance industry worldwide. It provides:


  • An overview of M&A transactions by analyzing the volume and value of deals globally, and analysis of M&A activity on a regional basis.

  • Insights into the key M&A trends and their impact on the insurance industry.

  • Understanding of M&A waves in the insurance industry, and their contribution to the global M&A environment.

  • Overview of private equity deals in the insurance industry on a global and regional basis.

  • Analysis of inorganic growth opportunities in high-growth markets.


Scope


  • Detailed study of factors leading to M&A activity among insurers, and also analysis of how drivers impact the insurance industry.

  • An overview of the role of private equity in insurance M&A, and how private equity firms are creating competition in acquiring attractive targets in the insurance industry.

  • Discussion of the impact of low interest rates on M&A activity in the insurance industry, and how they affect insurers' overall profitability.

  • Insight into how the underwriting cycle affects levels of M&A activity in the insurance industry.


Reasons To Buy


  • Gain an understanding of how consolidation and restructuring can lead to targeted growth.

  • Understand opportunities to realize synergies through M&A transactions.

  • Develop an insight on value creation in insurance through inorganic growth.

  • Understand the strategic implication of leading M&A transactions as a result of the evolving regulatory landscape.


Key Highlights


  • Persistent low interest rates as a result of the financial crisis have constrained insurers' overall revenues and profitability, particularly in developed economies. This has encouraged insurers and reinsurers to streamline their operations, divest non-core businesses and rationalize investment portfolios, leading to an increase in M&A deals.

  • Banks too are experiencing capital constraints in the challenging economic environment, particularly in mature economies. This is forcing banks to either divest or reduce stakes in insurance subsidiaries to raise capital and focus on core operations. This trend has also added to M&A activity in the global insurance industry.

  • M&A transactions for run-off portfolios, particularly in the US and Europe, are expected to surge, as insurers divest capital-intensive legacy insurance products. With billions of inactive books of insurance business, there is an immense opportunity for insurers specializing in generating value from legacy portfolios.

  • Insurance broking continues to attract private equity (PE) investors with a number of M&A transactions. Historically, investments in insurance broking firms have been preferred by PE firms. The fee-based nature of broking, delivering stable cash flows with low balance-sheet risk makes it an appealing target for PE investors. The dynamics of insurance broking can enable PE firms to achieve higher returns and exit the business in a defined period.

Insight Report: M&A in the Global Insurance Industry

Table of Contents

1 Executive Summary

2 M&A in Insurance - the Global Landscape
2.1 North America
2.2 Europe
2.3 Asia-Pacific
2.4 South and Central America
2.5 The Middle East and Africa

3 What Drives M&A in Insurance?
3.1 Business Expansion
3.2 Achieving Efficiency
3.3 Simplifying the Business Model
3.4 Economic and Market Factors

4 The Role of Private Equity in Insurance

5 Perspective on Insurers' Inorganic Growth

6 Conclusion

7 Appendix
7.1 Methodology
7.2 Contact Timetric
7.3 About Timetric
7.4 Timetric's Services
7.5 Disclaimer

List of Tables

Table 1: Key Insurance Divestment by Banks
Table 2: Key M&A Deals in Insurance Industry, North America (2015)
Table 3: Key M&A Transactions in the US Health Insurance Industry
Table 4: Key Insurance Industry M&A Deals in Europe (2015)
Table 5: Key Insurance Industry M&A Deals in Asia-Pacific (2015)
Table 6: M&A Prospects in Key South East Asian Markets - Insurance Industry
Table 7: Key Insurance Industry M&A Deals in South and Central America (2015)
Table 8: Key Insurance Industry M&A Deals in the Middle East and Africa (2015)
Table 9: Key PE Deals in Insurance Industry (2014-2015)
Table 10: Private Equity Transactions in Insurance M&A by Region (US$ Million)
Table 11: Key PE Deals in Insurance Broking Segment (2015)

List of Figures

Figure 1: Global M&A Deal Values and Volumes (2011-2015)
Figure 2: M&A Deals, Values and Volumes - North America (2011-2015)
Figure 3: M&A Deals, Values and Volumes - Europe (2011-2015)
Figure 4: M&A Deals, Values and Volumes - Asia-Pacific (2011-2015)
Figure 5: M&A Deals, Values and Volumes - South and Central America (2011-2015)
Figure 6: M&A Deals, Values and Volumes - the Middle East and Africa (2011-2015)
Figure 7: M&A Drivers in the Insurance Industry
Figure 8: PE Deals in Global Insurance Industry (2011-2015)
Figure 9: Synergies in M&A

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