Combatting structural pressures and catering to Asia’s wealthy class requires insurers to go beyond existing segments and strengthen both distribution and new product capabilities
2025 saw an uptick in deal activity, with a larger concentration of insurance-focused targets in Japan, but higher deal values in India. 2026 is expected to build on this momentum as insurers look to diversify their revenue and compete head-on with PE-led acquisition of assets across the distribution vertical.
To win in new markets, we expect buyers and sellers to leverage M&A as a strategic tool to navigate the following trends:
- Insurers as likely buyers of PE-distribution assets reaching the end of their hold periods; Continued buy-and-build play of insurance brokerage platforms among global PE leaders
- Payers to exit non-strategic markets as they navigate higher capital requirements (Asia ex-Chinese Mainland)
- Regional one-stop-shop healthcare ecosystems as a viable route towards greater operational efficiency and diversified revenue streams
- Embedded insurance as the next frontier, where insurers will explore partnerships with Insurtech and Banking partners
In our report, we explore these trends across Asian markets, and outline where value creation opportunities can be realised. Click the link below to find out more.
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For a comprehensive view of Asia’s Financial Services 2026 M&A Outlook and a review of the deal market in 2025, click here.
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