Merger and acquisition activity for property and casualty insurers, agents and brokers heated up in 2010, as insurers sought to improve their strategic standing within the industry, according to a report from Conning Research & Consulting.
The Conning report, "Global Insurance Mergers & Acquisitions in 2010, Moving From Defense to Offense," said improving valuations and the continued soft market, now in its seventh year, drove the increase in deals.
While eager to grow, those pursuing M&A transactions proceeded with caution for fear the deals would not produce the "desired result" during this difficult market downturn.
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