As a global insurer seals another transaction in the region, consolidation will be the theme throughout 2018 in the Asian insurance market.
A wave of insurance mergers and acquisitions swept over Asia Pacific in the past couple of years. The latest move sees Allianz complete an acquisition in Sri Lanka, closing a deal that was announced earlier this month.
More insurance assets in Asia could soon be on the block. Insurance Australia Group is conducting a wholesale country-by-country review of its Asian business unit, with selling all or some of the businesses an option according to a recent report from the «Australian Financial Review», (behind paywall).
Fast-Growing Market
The Asian insurance market is seen as the fastest growing market in the world and expected to underpin the global market over the coming decade.
The burgeoning middle class spread across a diverse geographic region coupled with a new generation of customers entering the market for the first time with different insurance demands is the prize.
