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September 25, 2004
Insurance M&A waning, UBS says
Mergers and acquisitions in the insurance industry are on the wane because firms are reluctant to repeat mistakes made during the consolidation spree of the late 1990's, UBS analysts said Friday. American International Group , the world's largest insurer, French giant Axa, and Canada's Manulife Financial may be the only firms left with the size, resources and inclination to try large acquisitions, the analysts said in a note to clients.
Posted by Tom Troceen