Insurance Leaders Warm to M&A

In our latest Insurance150 microsurvey, we asked executives across the industry a pivotal question: “How likely is your organization to pursue M&A in the next 24 months?”

August 19, 2025 • Estimated Reading Time: 2 minutes

The Next Wave of Insurance M&A: Leaders Weigh In

With macroeconomic uncertainty still shaping boardroom agendas, understanding the appetite for deal-making provides an early signal of how insurers plan to grow. The latest results show measured optimism, with deal-making on the rise but strategies varying sharply by role.

Appetite Rising

Across all respondents, 23% said they are highly likely and actively seeking opportunities, while another 62% noted that M&A is possible if the right target emerges. Just 15% reported they are unlikely to pursue deals. Compared with earlier sentiment, this signals a growing recognition that inorganic growth will be critical in navigating market challenges.

C-suite Stays Measured

Among the C-suite, 25% are actively pursuing M&A, while the remaining 75% lean toward a “wait-and-see” stance. This reflects leadership’s ongoing focus on discipline, carefully weighing opportunities against risk and capital priorities.

Divergence Across Roles

The survey highlights deeper contrasts by role:

  • Directors are evenly split, with 50% open to M&A and 50% focused on organic growth.

  • Owners (100%) fall entirely in the “possible” category—showing interest, but not urgency.

Partners and VPs display sharper intent, with 50% in each group actively seeking deals, marking them as the most aggressive segments.

Conclusion: More Deals, But Targeted

The survey underscores a market that is more open to M&A, but still disciplined. Executives show greater willingness to pursue deals than in past quarters, yet execution will likely center on transactions with a clear strategic fit and operational upside. For dealmakers, the next two years may bring fewer defensive plays and more deliberate, targeted bets—a shift toward growth by design rather than growth by chance.