The report attributes some of the drop in activity to "a diminishing appetite in some regions for insurtech businesses," however, interest from private equity firms looking to invest in insurtechs varies by country. Photo: Maks_Lab / Adobe Stock
The international insurance industry saw a marked drop in the number of mergers and acquisitions (M&A) throughout the first half of 2023, according to Clyde & Co's Insurance Growth Report mid-year update. The first half of 2022 saw 242 completed deals, but that number dropped 29% to 171 for the same period in 2023.
The decline varied by geographic area, with the most significant drop occurring in the Americas, which saw only 79 deals in the first six months of 2023 as compared to 104 for the second half of 2022, or a 24% change. The U.S. market was still the strongest around the globe for M&A activity, with 60 completed transactions, although that was still a 27% decrease from the 83 deals that occurred in the second half of 2022.
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Patricia L. Harman
Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to PropertyCasualty360.com, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]
