According to analysts KPMG, the world’s largest insurers are looking to Asia for their next acquisitions.

Recent research suggests that insurers in the global market are considering their options carefully, some of them being prepared to spend budgets up to US$500million over the next few years.

KPMG’s survey, entitled Run For Cover, involved over 200 of the major insurance firms worldwide and reveals the desire for the market to amalgamate in the very near future.

As well as considering options in the local area, many companies are targeting the Asia Pacific region as an arena in which to expand. Statistics show that approximately 19 percent of insurance firms have made acquisitions in this area in the last three years, but due to predicted growth of the insurance market in the Asia Pacific market the trend is about to change.