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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Global | Publication | October 23, 2018
Last month marked the ten-year anniversary of the collapse of Lehman Brothers. We hosted a conference in our London office to discuss how the financial landscape has changed and what lessons have been learned (or not).
I had the pleasure to speak at the event along with Sarah Coucher, a restructuring partner in our London office, and our special guest, former UK cabinet minister Ed Balls. Ed gave his insights on the financial crisis from a UK perspective.
The financial crisis and the resulting Great Recession took a tremendous toll on the US: trillions of dollars of wealth were destroyed and nine million jobs lost. I addressed what things look like in the US ten years on from the demise of Lehman. And the economy looks upbeat indeed. Last month marked the longest bull market on record, with the S&P 500 Index hitting an all-time high. It has been a remarkable run since the end of the financial crisis with record level corporate earnings. Inflation has been manageable; unemployment is down from a high of 10% to its current level of 3.7%. The housing market is back with home prices up. The US economy seems to be churning at nearly full strength.
Yet there are some worrying signs that the lessons learned from the financial crisis are being forgotten with our surging economy. Three things in the US to be concerned about:
So, as we discussed at our conference in London last month, are we shunning financial prudence in the US and ignoring relevant lessons from the financial shocks of 2008? Time will tell.
On that upbeat note, I hope you find our latest issue of the International Restructuring Newswire to be of interest.
Howard Seife
Global Head
Financial Restructuring and Insolvency
Publication
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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