Highlights of deal activity in 2024, include:
• The final quarter of 2024 saw nine publicly announced deals, transferring $2.4bn in disclosed liabilities, capping off a significantly more active second half of the year.
• Overall, 33 transactions were publicly announced in 2024 with an estimated $6.6bn of liabilities transferred.
• Deal size trifurcation continued, with different market participants announcing deals at the $1bn, $100m to $500m and sub-$100m marks.
The short report also includes the second iteration of PwC’s market barometer which represents the sentiment coming from market participants. Q4 provides an in-the-moment view of the current relative strength of the legacy market and a direct comparison to Q3.
Accompanying the report, Robbie Kerr, Senior Manager in PwC’s Corporate Liability Restructuring team, said: "In 2024, we saw transactions spanning the full spectrum of deal sizes—from billion-dollar loss portfolio transfers to mid-sized and smaller transactions. The continued trifurcation of deal sizes highlights the evolving needs of market participants, and as we move into 2025, we expect this momentum to persist, driven by capital optimisation, regulatory developments, and increasing demand for both economic and legal finality solutions."
PwC Non-life insurance run-off deals - 2024 year-end review
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