European Financial Services M&A Insight

October 2009

As we move towards and into 2010, we expect to see an increase in deal activity. We believe more institutions will shed their non-core businesses and we continue to predict a shake-out of financial services ownership in CEE and the CIS. The European insurance market, meanwhile, remains ripe for consolidation and, indeed, on 25 July 2009, the merger of Friends Provident and Resolution was announced in the UK.