Asset management partnerships or sales will remain on the agenda for European insurers in 2025 due to the wave of consolidation among the region’s asset managers and a pressure for insurers to rationalise their business models and lift capital returns.

Bancassurance may soon see a resurgence in Europe thanks to an obscure accounting quirk due to take effect in January 2025 which is expected to fuel deal-making between banks and insurers, according to market sources.

If Gallagher’s purchase of AssuredPartners closes at the $13.45bn value announced, it would be the largest insurance broker acquisition on record.

Shares in Europe-listed P&C (re)insurers delivered their second-strongest performance of the year in November, amid an otherwise subdued month for European equities.

Lloyd’s will trade into 1.1.25 with an initial market stamp capacity of at least £57bn ($71.8bn) – a new record high – with a minimum of 51 surveyed syndicates increasing their business plans for next year.

Tomorrow marks the official conclusion of the 2024 Atlantic hurricane season, which ultimately delivered on expectations that it would be “hyperactive”, with a few surprises along the way.

Europe’s asset management industry is expected to enter a period of fresh consolidation as companies seek the scale required to compete in a complex investment landscape, offering insurers a chance to free up capital and simplify their business models.

The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 1.9 percent last week, with all 12 industry groups posting gains.

Hannover Re was the only one of the big four European reinsurers to not deliver a major surprise in its Q3 earnings, with profit warnings at Munich Re and Swiss Re and a life charge at Scor providing the main headlines from the quarter’s results.

The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 0.8 percent last week, outperforming Wall Street benchmarks that turned negative after Federal Reserve commentary tempered expectations for interest rate cuts.