Insurers are ramping up their mergers and acquisitions activity this year, according to the “2014 Insurance Industry Outlook Survey” conducted by KPMG. The vast majority of insurers also are investing in customer programs, talent and technology to gain competitive advantage in the industry.

KPMG surveyed 95 U.S.-based senior insurance executives in February and March, and 54 percent indicated that they expect to be involved in an M&A deal as a buyer over the next year, up from 34 percent in KPMG’s 2013 survey. Of that number, 19 percent said they are “very likely” to be involved in an M&A as a buyer, up from just 10 percent last year; 35 percent said they were “somewhat likely” to take action, up from 24 percent the year before. The number of executives who said they had no plans for M&A activity dropped to 21 percent, from 41 percent in 2013.

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