NEW YORK–Future property-casualty mergers and acquisitions activity will be defined largely by the overall rate environment, according to experts yesterday at a conference here.
The group made their comments at a session presented by Tillinghast-Towers Perrin consultants and Dewey & LeBoeuf law firm.
Michael Fallon, vice president, director of corporate finance for Liberty Mutual, said that after the late 90s, M&A activity fell off as the market hardened. Rates went up, he said, and companies grew through rate increases and by cleaning up balance sheets.
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