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In this recent article, originally written by Greg Winterton for Life Risk News, several experts weigh in on why recent exits by top asset managers aren't necessarily marking a retreat from the life insurance consolidator market, but, rather, are acting as a signifier of imminent and explosive growth in the space. However, despite this strong indication, investments are now becoming more strategic than ever before.
Senior Managing Director Robert Lytle was asked to weigh in on two recent transactions: Blackstones sale of Resolution Life to Japanese insurance giant Nippon Life, and Cinven's sale of Viridium Group, a German life insurance consolidator, to a consortium comprising Allianz, BlackRock, T&D Holdings, Hannover Re and Generali Financial Holdings:
"Both the consolidator and distribution markets have been in consolidation for many years – driven primarily by a few platform investments by mega-cap funds. These two examples are two of the larger ones. These are very large assets, and they are now typically too large even for mega-cap PE to do solo.”
-Robert Lytle, Senior Managing Director
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