In this month’s headlines we see 2 exciting IPMI M&A moves. AJ Gallagher and April International have to be amongst the most acquisitive players in broking and IPMI generally. The latter must be congratulated for its forensic search and engagement efforts with new targets (Expat & Co was not well known outside Belgium) which differentiate it from others. It is interesting to see Gallagher enter the IPMI space – winning the Clements deal, which many others had hoped to do – and we predict we will see some more of this from them. The Pacific Prime annual IPMI report is always welcome and worth a read. Bupa’s new € (Euro) bond raising may be an interesting sign.

Elsewhere, the news is confirmatory of previous trends. For example:

(1) Digital health investing is down, with gloomy news of struggling former unicorns – although it continues at a pace within large and the (right) small companies and sectors. Teladoc’s continued ability to invest and grow, despite enormous losses is one case study. Oncology is another.
(2) Howden continue to buy, this time in Italy.
(3) A newly launched health specific AI tool – HealthGPT – is no surprise.
(4) Mental health continues to be a massive challenge for employees/employers and insurers.

Please do read to the end of the headlines, as in line with our global approach, we have added a NEW section on Asia – edited by Nigel Harris, our regional director – to the ME and India one. In both regions we see increased investment in multiple, fast growing health insurance, health provision and evolving health intermediation markets.

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