CFO Slice

Merger and acquisition activity in the insurance sector remains robust, with industry participants increasingly evaluating how artificial intelligence (AI) could reshape competitive dynamics, valuations, and future deal strategies, according to PwC. The sector recorded 191 disclosed transactions worth approximately $29.6bn between December 2025 and May 2026, slightly below the 207 deals valued at $31.8bn in the previous six-month period. PwC said investor appetite remains strong, particularly for specialty insurers, managing general agents, fronting carriers, and excess and surplus lines businesses. Several major transactions highlighted continued consolidation across the industry, including the $22bn merger between Corebridge Financial and Equitable Holdings, Enstar Group’s $1.59bn acquisition of Accident Fund Holdings, and Willis Towers Watson’s $1.45bn purchase of insurance broker Newfront. PwC said AI is becoming a central consideration for investors and management teams as insurers and brokers assess whether new technology can lower operating costs, improve underwriting and claims processes, and create competitive advantages. The outcome could significantly influence future valuations, capital allocation decisions, and acquisition strategies.