Increase in insurance M&A seen in HK, SG in 2024

A Clearwater Analytics survey indicates a notable increase in mergers and acquisitions (M&A) activity in the insurance sector of Hong Kong and Singapore for 2024, with 65% of industry decision-makers expecting growth. The survey, involving over 80 insurers and asset managers managing over USD2.5tr, highlights a trend towards diversified investments and technological advancements. Tom Marlatt, Director of Insurance, Asia Pacific, emphasises the sector’s adaptation to new technologies amid changing regulatory landscapes. While 99% of insurers now include alternative assets in their portfolios, 37% report valuation challenges, underscoring the need for effective risk management and data analysis tools.