Following the release of Part 2 of the Insurance Growth Report 2020, which analysed M&A trends by region, Part 3 looks at alternative routes to growth.
Clyde & Co's Insurance Growth Report 2020 is split into three parts.
As we discussed in Parts 1 and 2, as we enter a new decade the outlook for the insurance industry has never been more finely balanced. The green shoots of market hardening that first emerged in 2018 appear to have taken root in 2019. At the time that this report was put together, the impact of the coronavirus outbreak was only just starting to be felt.
It is against this backdrop that (re)insurance businesses around the world have been seeking growth – looking to balance the risks they face by pursuing the right opportunities to deliver the right growth. M&A activity continued to be a crucial route to growth for (re)insurance businesses in 2019.
Part 3 analyses alternative routes to growth.
Organic growth has been hard to deliver in recent years, especially for those in ultra-competitive mature markets. As re/insurance businesses weather the coronavirus storm and chart a course to recovery, growth will remain a key focus as they consider every option available to meet shareholder demands.
In our analysis, it is clear that technology and innovation remain fundamental to every compelling growth proposition. This part assesses the alternatives available to (re)insurance businesses, including:
- Starting up operations from scratch
- Looking for a licence to do business in a new market
- Teaming up with a partner who can complement an existing offering
It also takes a look at the ways in which (re)insurers are developing solutions to help their clients address the evolving risk landscape.