Fitch Forecasts Few P-C Mergers In 2002
NU Online News Service, Feb. 21, 4:09 p.m.EST?Merger and acquisition activity in theproperty-casualty insurance industry that slowed after 1999 isunlikely to pick up until sometime in 2003, according to a reportreleased today by Fitch Ratings.
The New York-based firm said that contrary to the expectationsof some, passage of the Gramm-Leach-Bliley Financial ServicesModernization Act, allowing banks more involvement in the insurancebusiness, had not spurred any deal-making in the sector.
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