The insurance industry has seen sig...

The insurance industry has seen significant changes across the past several years, including consolidation, restructurings and demutualization. These days, the industry has been taking a breather, yet if U.S. consolidation trends continue to mirror those of Europe it's likely more companies will combine with each other in the nearest few years.

In the Running

As many of the mostly likely candidates for acquisition--health-care entities and property/casualty companies--are mutuals, single in kind type of acquisition likely to be attractive is the sponsored demutualization.

In a sponsored demutualization, a mutual company opt to demutualize as part of a