The dollar value of merger and acquisition activity for the U.S. property-casualty sector grew last year by just under $2.7 million, but for all types of insurers worldwide the monetary worth of mergers declined, a consulting firm reported.
Conning Research and Consulting said in 2008 there was a greater amount of small deals worldwide–766 transactions with a value of just over $55 billion, compared with 750 transactions at a reported value of more than $138 billion in 2007.
"While the property-casualty sector [globally] actually saw growth in M&A values of about 20 percent to $16.3 billion after a strong start in the first quarter, life and managed care company values and transactions were down significantly," said Stephan Christiansen, Conning research director, in a statement with the report.
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