Report forecasts insurance M&A drive

According to Jones Lang LaSalle's new report 'Insurance: Where Next?', the financial crisis and government intervention with insurance giants will trigger consolidation. It says some industry insiders are predicting "once in a lifetime buying opportunities" as troubled insurers are forced to sell assets. The report adds headcount reductions are likely in the short term but says, due to rationalisation and restructuring programmes undertaken over the last five years, reductions "are not expected to be as pronounced as in the banking sector". "The financial crisis and economic downturn ...