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Insurance company mergers and acquisitions pick up in 2010, new report says
By Insure.com staff
Mergers and acquisitions of insurance companies picked up considerably in 2010, reversing a five-year decline, according to a new study by Conning Research & Consulting.

The number of transactions increased 35 percent last year over 2009, and deal values rose by 224 percent.
"The increased activity was the result of buyers responding to soft market insurance conditions as well as generally improving conditions for [mergers and acquisitions], including a more vibrant economy, more buoyant equity markets, and stronger capital positions at insurers," Jerry Theodorou, a Conning Research analyst, said in a press statement.

The study, "Global Insurance Mergers & Acquisitions in 2010: Moving from Defense to Offense," analyzes M&A activity in property-casualty, life, health and distribution and service insurance sectors.

Targets for merger and acquisition were generally mid-sized insurance companies, including specialty underwriting units and specialty distribution groups, versus large consolidations, according to the company.

Conning Research & Consulting is a division of Conning in Hartford, Conn., which provides asset management and insurance industry research and consulting services to insurers.



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