Ann: Acquisition of St Andrew's Insurance and Trading Update, page-3

I think the St Andrews acquisition is a positive and important step forward, in that:
1. FIG is now firmly the no.2 player in the direct life space having acquired the additional market share.
2. This deal hooks FIG into the big league with BOQ distribution for at least 3 years.
3. FIG is moving from the origins of being a niche player relying on slow organic growth, to being much more diversified in terms of products and channels, which de-risks the business in terms of long-term sustainability.
4. St Andrews is profitable from day 1.
5. Presumably a cost-out with better economies of scale that come generally with an acquisition.
6. FIG is showing courage in capitalising on opportunity presently available when the big banks are under regulatory scrutiny (http://www.copyright link/opinion/c...rent-conflict-for-two-decades-20180416-h0yu9i).
7. Today's volume would hopefully help anyone else wanting to sell out to do so (finally).

Obviously any acquisition does come with upfront costs as well as integration and execution risks.