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Member, Beacon International Group, Ltd.
A.M. Best Co. Inc. has said in a report that there has been a shift in mergers and acquisitions activity to tie-ups between large insurance entities as opposed to transactions involving smaller entities, Asia Insurance Review reported.
M&A activity is likely to continue in the coming months as insurers and reinsurers increasingly seek ways to deploy capital and create scale amid the current soft market conditions and weak investment returns, said A.M. Best.
The rating agency expects industry consolidation to remain at the forefront of the management agenda.