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What M&A trends will transform the 2024 insurance landscape?
It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
To determine whether an insurer has a duty to defend, Texas applies the eight-corners rule. Under the eight-corners rule, only the insurance policy and the pleadings are relevant—indeed, “the
allegations . . . should be considered . . . without reference to the[ir] truth or falsity . . . and without reference to what the parties know or believe the true facts to be, or without reference to a legal determination thereof.” Thus, if a petition alleges a potentially-covered cause of action, an insurer must provide a defense, even if the allegations in the petition can be shown to be “groundless, false, or fraudulent.”
On May 1, 2020, however, the Supreme Court of Texas recognized the first-ever exception to the eight-corners rule. Under the exception, courts may now pierce the pleadings and consider extrinsic evidence to determine whether the insured has colluded to obtain insurance coverage for an otherwise uncovered claim.
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It is widely accepted that 2023 was one of the worst years in recent memory for M&A activity.
Publication
The ongoing conflicts and further geopolitical tensions in Eastern Europe and the Middle East, coupled with upcoming elections in a number of key countries including the US and the UK, make 2024 challenging to predict what impact this will have on the insurance sector.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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