Merger and acquisition tracker GlobalData’s latest figures highlighted that, in terms of deals, while this amount seems particularly substantial, the value marked a 17.5-per-cent decrease over the previous month, and a drop of 20.5 per cent compared to the last 12-month average of $5.8 billion. GlobalData also noted that the insurance sector saw a drop of 8.7 per cent over the last 12 months, with 84 deals against the average of 92.
But, revealing still more insight, GlobalData pointed out that, in value terms, North America led the activity with deals worth $4.49 billion, and that the combined value of the top five insurance deals stood at $3.66 billion, a considerable majority of the overall monthly total.
The top five insurance industry deals of September 2019 tracked by GlobalData were:
- Prudential Financial’s $3.5-billion acquisition of Assurance IQ.
- The $80-million private equity deal with Pareto Health by Great Hill Partners.
- Guggenheim Partners, Hudson Structured Capital Management, LSV Capital Management, Lockton and Stone Point Capital’s $32-million venture financing of Bold Penguin.
- The $28.29-million venture financing of Hangzhou Fansheng Technology by Bertelsmann Asia Investments, Lightspeed China Partners, YF Capital and Zhen Fund.
- 500 Startups Management, Index Ventures (UK), Ribbit Capital, SVB Financial Group and Y Combinator Management’s venture financing of Vouch for $24.5 million.