A period of intense mergers and acquisitions activity a decade ago has given rise to a number of dominant global players in the life insurance market.
Intelligent Insurer investigates the conditions that allowed these companies to develop and the opportunities they present to reinsurers.
There are a number of ways for a life insurer to become a global success. Some have built their global presence steadily, over many years of carefully considered strategic and organic expansion. Others, such as Aviva, have grown mainly through joint ventures. And then there are those companies that found themselves quickly propelled to global status thanks to a frantic period of mergers and acquisitions around 10 to 20 years ago.
“A good example of this is Allianz, which built up a significant operation inside Germany and then began to acquire companies outside of the country,” says Vasilis Katsipis, general manager of rating agency A.M. Best.
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Life insurance, Fitch Ratings, Solvency II