Mergers and acquisitions have always been common within the life insurance and financial services industries. But recently, the trend has seemingly accelerated, particularly among carriers who are offloading their life and annuity business to private equity and venture capital firms. Recent examples include: Allstate, Voya, Allianz, Hartford Financial Services Group, Prudential, and Principal Financial Group.
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I was reading Leslie Scism’s most recent article in the Wall Street Journal recently, and it spurred some interesting conversations. Leslie does a great job explaining different people’s perspectives on the same topic – that of insurers selling off portions of or all of their books to private equity firms. Recent examples include Allstate, Voya, Allianz, Hartford Financial Services Group, and Principal Financial Group.