Large insurance companies, MGAs and brokers are all seeking economies of scale. Sometimes that means deploying the latest RPA admin tech and automated claims, but there’s also a business case for partnerships, mergers and straightforward acquisitions. Here’s the latest from the USA, courtesy of Global Data;
Total insurance industry M&A deals in Q3 2019 worth $4.17bn were announced in the US, according to GlobalData’s deals database. The value marked an increase of 51.2% over the previous quarter and a rise of 34.2% when compared with the last four-quarter average of $3.11bn.
The US held a 33.8% share of the global insurance industry M&A deal value that totalled $12.35bn in Q3 2019.
In terms of deal activity, the US recorded 121 deals during Q3 2019, marking a rise of 12.04% over the previous quarter and a rise of 4.3% over the last four-quarter average.
The US insurance industry M&A deals in Q3 2019: Top deals
The top five insurance industry M&A deals accounted for 100% of the overall value during Q3 2019.
The combined value of the top five insurance M&A deals stood at $4.17bn, against the overall value of $4.17bn recorded for the month.
The top five insurance industry deals of Q3 2019 tracked by GlobalData were:
- Prudential Financial’s $3.5bn acquisition of Assurance IQ
- The $384.25m acquisition of White Eagle Asset Portfolio by Jade Mountain Partners
- Markel’s $212.5m acquisition of The Hagerty Group
- The $75m acquisition of Pavonia Life Insurance by Aspida Financial
- Old Republic National Title Insurance’s acquisition of Surety Title Agency for $0m.