麦肯锡 投资保险：价值势在必行.pdf

1、October 2024Insurance PracticeInvesting in insurance:The value imperativePrivate investment in insurance is rising as deal volumes and value for the global private equity industry contract.For the bet to pay off,we suggest three ways of generating operational value.by Grier Tumas Dienstag,Leda Zahar

2、ieva,and Matthew Scallywith Christian Irlbeck Across private markets globally,there is persistent pressure to effectively deploy capital,generate higher-than-average returns,and exit investments profitably.Yet challenges remain daunting,including inflation and interest rate volatility in the macroen

3、vironment and intense competition for assets resulting from investors holding significant dry powder aimed at a scarce number of targets offering sustainable sources of competitive advantage.Its thus unsurprising that deal volumes and value for the global private equity(PE)industry fell 21 percent a

4、nd 24 percent,respectively,in 2023.1 When it comes to insurance,though,PE investments are rising.Following a lull since 2022,the value of private investments has jumped from approximately$20 billion in 2022 and 2023 to$27 billion so far in 2024.While consolidating distribution remains the dominant t

5、heme2especially among brokersthe areas of claims services,specialty underwriters,and insurance software have all become more of a core focus for PE investors.The catalyst?Aside from the sectors inherent appeal,investors see clear value-creation levers,including taking what we call a“back to brillian

6、t basics”approach to granular data;the opportunity to use AI and other technologies to reduce expenses,improve technical performance,and reduce the loss ratio or propel growth;and the ability to acquire and retain top talent to spur innovation and operational excellence.This article provides an over