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Life Insurance
Strengthened
life industry seizes the moment
The current
benign environment for the UK Life & Pensions
industry follows a period of intense
change: a turbulent decade of bad
consumer press, shattered balance
sheets, heightened regulatory scrutiny
and rising distribution costs has
left its mark. But the current
trend is for strong reported new
business volumes and strengthened
capital positions.
For an
industry which has, in the last 15
years, largely managed to deliver
member benefits, it is impressive
to see the industry respond to the
challenges of operating in the shareholder-value
world. Firms are exploring ways to
understand their business performance
better and identify where new value
can be created.
Growth
is back on the agenda. A recent KPMG
survey (Run for Cover? M&A appetite and strategy in the global insurance industry, May 2006) with the Economic Intelligence Unit (EIU) found that 71
percent of respondents expected consolidation
within the global insurance sector
to accelerate over the next three
years as the industry anticipates
an increasingly competitive environment
both from new entrants and through
customer demand.
KPMG’s
industry knowledge allows us to work
with clients across their strategic
agenda. In particular we have been
helping clients achieve cost effective
approaches to help improve their
customer relationships, governance
and controls, product and channel
profitability, business and finance
transformation, risk and capital
management, transactions and financing.
We have over 250 people working full
time with Life Assurance clients
in the UK, and connect to an international
network of over 500 across major
international business centres.
| If you have any life insurance queries please contact: |
| Jon Hogan |
tel:
020 7694 2258 |
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