Tools commonly used in the Insurance Mergers & Acquisitions industry for day-to-day tasks and operations.

• Due diligence software
• Financial modeling software
• Valuation software
• Risk management software
• Data analytics tools
• Legal document management software
• Project management software
• Communication and collaboration tools
• Investment banking databases
• Market research tools

Common products and services typical of NAICS Code 524298-24, illustrating the main business activities and contributions to the market.

• Insurance company acquisition
• Insurance company merger
• Insurance company sale
• Insurance company consolidation
• Insurance company restructuring
• Insurance company spin-off
• Insurance company joint venture
• Insurance company divestiture
• Insurance company privatization
• Insurance company recapitalization

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• Chartered Property Casualty Underwriter (CPCU): A professional certification program that provides insurance professionals with a comprehensive knowledge of the insurance industry, including risk management, insurance policy analysis, and underwriting. Offered by The Institutes.
• Associate In Risk Management (ARM): A professional certification program that provides insurance professionals with a comprehensive understanding of risk management principles, including risk assessment, risk control, and risk financing. Offered by The Institutes.
• Certified Insurance Counselor (CIC): A professional certification program that provides insurance professionals with a comprehensive understanding of insurance policy analysis, risk management, and insurance agency management. Offered by The National Alliance for Insurance Education & Research.
• Certified Risk Manager (CRM): A professional certification program that provides insurance professionals with a comprehensive understanding of risk management principles, including risk assessment, risk control, and risk financing. Offered by The National Alliance for Insurance Education & Research.
• Certified Merger & Acquisition Advisor (CM&AA): A professional certification program that provides insurance professionals with a comprehensive understanding of the mergers and acquisitions process, including valuation, deal structuring, and due diligence. Offered by the Alliance of Merger & Acquisition Advisors.

A concise historical narrative of NAICS Code 524298-24 covering global milestones and recent developments within the United States.

• The "Insurance Mergers & Acquisitions" industry has a long history dating back to the early 20th century when the first insurance companies began to merge. One of the earliest examples of a merger in the industry was the 1911 merger of the Equitable Life Assurance Society and the Mutual Life Insurance Company of New York. This merger created the largest life insurance company in the world at the time. In the 1980s and 1990s, the industry saw a wave of mergers and acquisitions, with many large insurance companies acquiring smaller ones to expand their market share. Notable examples include the 1998 merger of Travelers Group and Citicorp to form Citigroup, and the 1999 merger of American International Group (AIG) and SunAmerica. In recent years, the industry has continued to see mergers and acquisitions, with AIG acquiring Validus Holdings in 2018 and Marsh & McLennan Companies acquiring Jardine Lloyd Thompson Group in 2019. In the United States, the "Insurance Mergers & Acquisitions" industry has seen significant activity in recent years. In 2015, the industry saw a record number of mergers and acquisitions, with 481 deals worth a total of $69.5 billion. Notable deals in the United States include the 2016 merger of ACE Limited and Chubb Corporation, which created the world's largest publicly traded property and casualty insurance company, and the 2018 acquisition of XL Group by AXA. The industry has also seen increased activity in insurtech, with many startups being acquired by larger insurance companies. For example, in 2019, Allstate acquired iCracked, a provider of smartphone repair services, and Nationwide acquired Vetsure, a pet insurance provider.

The anticipated future trajectory of the NAICS 524298-24 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Insurance Mergers & Acquisitions industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for mergers and acquisitions in the insurance sector. The industry is also expected to benefit from the growing trend of consolidation in the insurance industry, which is driving the demand for mergers and acquisitions. Additionally, the industry is expected to benefit from the increasing number of insurance companies looking to expand their operations through mergers and acquisitions. However, the industry may face challenges due to the increasing regulatory scrutiny of mergers and acquisitions in the insurance sector. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Insurance Mergers & Acquisitions industry, reflecting notable innovations that have reshaped its landscape.

• Marsh & McLennan Companies acquired Jardine Lloyd Thompson Group, a leading provider of insurance, reinsurance, and employee benefits related advice, brokerage, and associated services, for $5.6 billion in 2019.
• Aon acquired CoverWallet, a digital insurance platform for small and medium-sized businesses, for an undisclosed amount in 2019.
• Willis Towers Watson merged with Aon in a $30 billion deal in 2020.
• Arthur J. Gallagher & Co. acquired the global aerospace operations of JLT Specialty Limited, a subsidiary of Jardine Lloyd Thompson Group, for an undisclosed amount in 2019.
• Marsh & McLennan Companies acquired Howden Group Holdings, a leading independent insurance broker, for $1.5 billion in 2021.