Global Insurance Industry M&A Activity Up in Q3: GlobalData

In the third-quarter of 2019, total insurance industry merger and acquisition (M&A) deals worth $15.17 billion were announced around the world, which is up 51% on the previous quarter, according to GlobalData.

Source: Reinsurance News | Published on December 11, 2019

M&As and transactional insurance

The firm’s deals database reveals that although the value of insurance industry deals in Q3 2019 increased on the previous quarter, it actually declined by more than 27% against the average level seen over the last four-quarters, of $20.84 billion.

Of the $15.17 billion, roughly 61% or $9.27 billion worth of deals occurred in North America, says GlobalData.

In terms of the number of deals, GlobalData states that the number of insurance industry deals witnessed in the third-quarter of 2019, at 302, is more than 13% above the average of 267 seen over the last four-quarters.

Looking at the value of insurance industry deals witnessed in Q3, and GlobalData’s deals database shows that the top five deals accounted for 65.5% of the overall value in the quarter, at $9.93 billion.

As tracked by GlobalData, the largest deal in the period was Prudential Financial’s $3.5 billion acquisition of Assurance IQ, followed by FWD Group’s $3.01 billion takeover of SCB Life Assurance Public, and then Brookfield Business Partners’ $1.93 billion acquisition of Genworth MI Canada.

In fourth place comes Intact Financial’s $753.3 million takeover of Frank Cowan and The Guarantee of North America, while the top five deals of the quarter is completed by Allianz’s asset transaction with Sul America for $741.72 million.