Insurers prepare for M&A explosion

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Although Prudential’s attempt to buy AIG’s Asian life unit for $35.5 billion (£22.7 billion) fell through earlier this year, insurance industry analysts and mergers and acquisitions (M&A) specialists say a wave of consolidation may be about to hit the industry. They point to a number of M&A drivers, including regulatory changes, that could prompt insurers to hive off parts of their businesses or acquire others. Meanwhile, forced divestment of insurance assets from large banking groups is also on