Financial service firm MarshBerry reported 11 insurance sector M&A deals in July bringing the total for the year-to-date to 85. This is 9% lower than the previous year, although MarshBerry said it expected to see an acceleration in H2 and forecast that total numbers for the year would get close to 2023’s figure of 151.

John Nisbett, managing director at MarshBerry, stated: “With the Labour Autumn Budget set for 30 October and continued chatter that this date will herald the announcement of an increase in the rate of capital gains tax, many private sellers already in discussions about selling their business are now racing to complete deals before that date. Expect an uptick in deal volumes as we approach the Budget.”