Deals
Goldman’s Fels Cites TIAA, MassMutual Deals as New M&A Phase
- Organic growth is getting harder, banker says at conference
- Everyone has had to look differently at M&A, he says
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Patrick Fels, a dealmaker at Goldman Sachs Group Inc., said insurers that don’t have publicly traded stock are becoming increasingly active in mergers and acquisitions.
“Organic growth and putting capital to work at attractive returns is harder and harder,” Fels said Monday at a conference held by the American Council of Life Insurers in Washington. “I think it’s forced everybody to look at M&A differently, including mutuals."