Insurers are investing in technology rather than pursuing innovation , a report concludes after finding that mergers and acquisitions in the industry fell to a three - year low last year . Law firm Clyde & Co estimates the number of completed mergers and acquisitions in the global insurance industry fell 40 % to 387 , from 444 in 2015 . A poor economic climate for insurers was also blamed for the slowdown . " It is becoming increasingly difficult to raise water and stay afloat , let alone move ahead of the competition by delivering the benefits that shareholders expect , ” said Andrew ##son , global director of corporate insurance at Clyde & Co.
Insurers are investing in technology rather than pursuing acquisitions, a report concludes after finding that mergers and acquisitions in the industry fell to a three-year low last year. Law firm Clyde & Co said the number of completed mergers and acquisitions in the global insurance industry fell 13% to 387, from 444 in 2015. A poor economic climate for insurers was also blamed for the slowdown. "It is becoming increasingly difficult to tread water and stay afloat, let alone move ahead of the competition by delivering the growth that shareholders expect,” said Andrew Holderness, global head of corporate insurance at Clyde & Co.