Life insurers are circling US asset managers as a way to make up for lost income from declining life insurance sales. Last year saw a record number of deals with 14 deals representing $1.04bn. In 2014, 16 deals accounted for $145m. Insurers are particularly keen to acquire expertise in fixed-income with most already managing bond portfolios in order to pay claims. Bankers are saying they expect US bond managers to pursue sales in 2018. Among US insurers, Prudential and MetLife are both said to be interested in making acquisitions to bolster the number of retirement assets they manage.
Life insurers are circling US asset managers as a way to make up for lost income from declining life insurance sales. Last year saw a record number of deals with 16 deals representing $1.04bn. In 2016, 14 deals accounted for $165m. Insurers are particularly keen to acquire expertise in fixed-income with most already managing bond portfolios in order to pay claims. Bankers are saying they expect US bond managers to pursue sales in 2018. Among US insurers, Prudential and MetLife are both said to be interested in making acquisitions to bolster the number of retirement assets they manage.