The findings were derived from the Clearwater Analytics insurance outlook report 2024 which surveyed decision makers across 59 insurers and 23 insurance asset managers in Hong Kong and Singapore, who provided their views on a range of topics, including M&A activity, regulatory developments, solvency rules and investing strategies and associated operational complexities. The survey took place between Oct 27 to Nov 9.
About 65% of the insurers and insurance asset managers polled by Clearwater Analytics are expecting to see more mergers and acquisitions (M&A) in 2024 in Singapore and Hong Kong. More specifically, the more positive sentiment was felt by larger organisations with companies reported assets under management (AUM) of over US$100 billion ($134.11 billion) while the small organisations – with AUM of just under US$1 billion – coming in at a more modest 58%.
In Singapore itself, 63% of the insurers and insurance asset managers polled expect to see M&As in the city-state rise in 2024 amid a flatter market compared to the rest of Asia in 2023.
