In an increasingly soft market, many re/insurers are turning to consolidation as a means to secure growth. As this trend continues, Rodney Bonnard, a partner at EY, explains to Intelligent Insurer the significance of this for the industry and how activity is varying between regions.
The current soft market conditions, which show no signs of letting up for re/insurers, have encouraged many to seek growth through consolidation.
"We’re in a very soft market for re/insurers and the specialty market and margins are very tight. People are looking for ways to grow, and one way is M&A."
Rodney Bonnard, EY, Europe, Mergers & Acquisitions