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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.
United Kingdom | Publication | March 2024
On March 12, 2024, the Chief Executive of the Regulator, Nausicaa Delfas, delivered a speech on the changes to the pensions sector and how the Regulator is responding.
The speech addresses the growing influence of scheme consolidation across both DB and DC schemes, the changing role of trustees in producing transparency and value for members, the emergence of superfunds and the broadening powers of the Regulator around compliance, oversight and analysis.
On the Government's Mansion House reforms, the Regulator believes that productive assets can play a role in a diversified portfolio if trustees have the necessary expertise, advice and governance. In January 2024 the Regulator issued guidance to support trustees in relation to private markets investments.
Commenting on pensions disclosure requirements, Ms Delfas said that the increased disclosure requirements were changing behaviour, for instance, in relation to climate change reporting, and the goal is to encourage genuine change in how schemes operate. It was incumbent on the Regulator to change if it was to “protect, enhance and innovate” in savers’ interests.
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It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
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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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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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