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Insurance M&A surge likely: Swiss Re

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Swiss Re Ltd. has said that new rules such as Solvency II and an influx of alternative capital would fuel more mergers and acquisitions in the insurance sector, reports Swissinfo.ch citing Bloomberg.

"We expect to continue to see a certain shakeout in the sector as companies join together in search of revenue and cost synergies," said a Swiss Re official.

The reinsurer said that the pace of M&A activity in the sector remains well below levels before the financial crisis.

Globally, there were 489 completed deals in 2014 compared with 674 in 2007, added Swiss Re.

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