From a long-term perspective; 4 life and 1 general insurance major with potential upside of up to 32%

Insurance as a product has been existing for ages, but still the industry was growing at a very slow pace. The awareness and the need to have insurance on which companies had been spending tons of money got created without them spending even a penny, due to covid. But it came with its set of problems, more claims, more requirements of capital. Then came changes in tax laws, which was another big blow. Given the fact that the overall size of the markets, a number of these problems will get resolved over a period of time. So does the current phase of consolidation is an opportunity for investors looking for a long term investment opportunity?