It could all end in tiers

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      <subfield code="a">Everyone was talking about M&A at Baden-Baden this year  as well as the eye watering prospect of further big reductions in reinsurance pricing at renewal time.A sobering message from Baden-Baden¿s Kongresshaus and Guy Carpenter¿s first night symposium set the tone for this year¿s pre-renewal discussions in the German spa town. Tackling the topical subject of mergers and acquisitions (M&A) in the industry, speakers lined up to explain why consolidation is frequently misguided, why it is so difficult to achieve value and where so many deals go so wrong.</subfield>
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