In 2025 there were 211 insurance transactions completed globally, according to Clyde & Co's
In 2025 there were 15 deals completed with a value of at least $1 billion, and seven of these exceeded $5 billion.
Eva-Maria Barbosa, partner at Clyde & Co, said in a statement:
"This past year has almost been a 'tale of two cities,' as activity has been selective and steady on the carrier side, but in the intermediary space, particularly with MGA's and brokers, we're seeing continued momentum and a real depth of interest in the sector. Insurers have sharpened their focus on specialty lines resulting in a clear emergence of strategic opportunities across energy transition-related risks, cyber and AI exposures, and contingency business tied to large multinational events. We expect this to continue into 2026 resulting in steady deal flow and targets thoughtful M&A."
Geopolitical instability remains a risk to dealmaking, according to the report. Following Zurich's acquisition of Beazley there is expected to be strong activity this year.
Peter Hodgins, Partner at Clyde & Co, said in a statement:
"In 2026, we expect a cautious but clear uptick in insurance M&A, driven by pent-up demand and abundant private capital targeting strategic bolt-ons."
An equal share of firms are prioritizing investing in people and investing in technology, according to
The Digital Insurance Predictions 2026 survey was fielded online during October - December, 2025 among 100 insurance industry professionals. Respondents represent a range of organization types, with the largest shares from agencies/brokerages (33%), P&C carriers (18%), multi-line carriers (15%), health insurance carriers (12%), and life insurance carriers (7%).
