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PwC: Megadeals can reshape reinsurance

PwC's Arthur Wightman

Overall company strategy and holding on to value are key to taking advantage of the record numbers of mergers and acquisitions in insurance.

Arthur Wightman, head of the Bermuda territory and insurance for financial services firm PwC, said a new report from the firm warned that the scale of recent transactions had the potential to create pitfalls and possible complexities.

Mr Wightman said: “Acknowledging these challenges and tackling them head on drives the best chance of success, in particular where bold decisions are being taken in response to today’s merger and acquisitions market.”

He was speaking as the report was unveiled at the Monte Carlo Reinsurance Rendez-vous, where he is hosting several PwC events for senior executives this week.

He added: “Decisions meed to be fully informed with those responsible being assigned and accepting accountability, from board level through to business unit leaders driving the operations for the evaluation and delivery of ideal objectives.

“These megadeals can propel businesses ahead of competitors and have the potential to reshape the industry.”