U.S. insurance merger and acquisition activities in 2009 were the lowest since 2002. But a pickup is underway, fueled by pent-up demand, according to a new report.
Published by Conning & Co. unit Conning Research & Consulting, Hartford, the report reveals that global transaction values declined further from very low 2008 levels.
At the same time, merger activity in the insurance industry outside the U.S. increased significantly, primarily due to significantly larger transactions in the life/annuity and health sectors, Conning analysts say.
But, non-U.S. property and casualty insurance merger and acquisition activity declined for the second straight year.