M&A Activity

RI3K , which has been up for sale for more than a year, was finally snapped up this month (NOVEMBER) by Qatar Insurance Services LLC, trading as Qatarlyst .

While rumours have been rife in the market for some time that a number of mergers and acquisitions were in the offing, the RI3K deal  is the first to come to fruition in a while. However, there is speculation that a few other large mergers are in the pipeline as well as important changes to the listing and reporting environments – so watch this space for more updates.
In January 2010, the Governor of New York David A Paterson announced plans for an international insurance exchange  in the Big Apple to rival Lloyd’s of London. There was a failed attempt to create such an exchange in the 1980’s and the legislation to do this is still on the books, although there has been little progress since January.
All of this uncertainty should be focussing the minds of insurance companies on a number of issues. The first is the importance of having Regulatory-compliant reporting systems.
That is a given, but what is of much more importance is ensuring that they have systems that are designed to be flexible enough to meet the demands of different markets – principally London – and that are also capable of adapting to future change.
We have received an increasing number of enquiries from US companies who are looking for systems that have flexibility designed into them and we expect this trend to be accelerated on a global scale throughout the year as M&A activity increases.

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