Tailwinds or Headwinds for European Insurance M&A - A View from the Top

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Insider Engage

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Whilst conditions in the market have changed dramatically since half-year 2022, FTI Consulting’s European Insurance M&A Barometer for 2022 shows that the dealmaking pace set last year has largely continued, setting new record volumes. While insurance transactions are not always officially announced, which may mean volumes are understated, 2022 witnessed a continued increase in European M&A activity in the insurance industry, with 435 deals announced compared to 379 in 2021 and 285 in 2020. As rising interest rates start to bite and debt financing becomes more expensive amidst the looming recession threat the opportunities for certain deals may start to narrow. Whether valuations reduce as a result remains to be seen. Despite prevailing conditions, high levels of ‘dry powder’ in the market, built up during the pandemic period from record fundraising rounds, continue to enable Private Equity funds and Private Equity-backed portfolio companies to deploy capital to suitable opportunities, albeit more cautiously. Join Insider Engage, in partnership with FTI, as we discuss the M&A landscape in 2023 in a free webinar to be held on March 22nd, Wednesday. 3pm GMT. Discussion questions include: 1. A review of the European Insurance M&A 2022 highlights 2. Macro outlook and impact on deal activity and valuations 3. US cross-border broker acquisitions and new wave of consolidation in Continental Europe 4. Perspectives on the P&C legacy market 5. The influence of Private Equity Speakers: • Rory O’Brien – Senior Managing Director, Co-Leader Global Insurance Services, FTI Consulting • Herman Klein Wassink, Senior Advisor, Insurance M&A, FTI Consulting • Michele Titi-Cappelli, Partner, Goldman Sachs • Ryan Brown – Deputy CEO, PIB Group • Phil Bulgin - Chief Restructuring Officer, Zurich Insurance Group
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