New York Insurance Superintendent Eric Dinallo told Reuters that financially enervated life insurers are prime candidates for mergers and acquisitions.
Speaking at the Reuters Global Financial Regulation Summit in New York, Dinallo said his office was content to play matchmaker to help insurers weakened by the credit crisis find suitable partners.
Dinallo comments come amid an inauspicious backdrop for many life insurers. Several of the countrys largest, including Newark, N.J.-based