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Insurance Deals Gather Momentum Amid Cost Squeeze

The feverish pace of global deal making is spreading to yet another industry: insurance. Deal makers don’t expect the pace to slacken any time soon.

A mix of impending new capital requirements, flagging profit growth and low investment returns has led insurance companies to turn to consolidation to try to cut costs and improve profitability.

Across the globe, $103.2 billion worth of insurance deals have taken place so far this year, more than double the value compared with the same period last year, according to data tracker Dealogic.

“This is the most active insurance M&A market we have experienced in a decade or more and the drivers behind it are likely...