Total insurance industry deals for December 2019 worth $14.31bn were announced globally, according to GlobalData’s deals database. The value marked an increase of 233.5% over the previous month and a rise of 224.4% when compared with the last 12-month average of $4.41bn.
In terms of number of deals, the sector saw a drop of 3.1% over the last 12-month average with 93 deals against the average of 96 deals. In value terms, North America led the activity with deals worth $9.02bn.
Insurance industry deals in December 2019: Top deals
The top five insurance deals accounted for 92.1% of the overall value during December 2019. The combined value of the top five insurance deals stood at $13.17bn, against the overall value of $14.31bn recorded for the month.
The top five insurance industry deals of December 2019 tracked by GlobalData were:
- New York Life Insurance’s $6.3bn asset transaction with Cigna
- The $4.27bn acquisition of ReAssure Group by Phoenix Group Holdings
- Resolution Life Holdings’ $1.25bn asset transaction with Voya Financial
- The $720m acquisition of IAS Parent Holdings by IA Financial Group
- Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital Partners, New Enterprise Associates, Redpoint Ventures and Town Hall Ventures’ venture financing of Bright Health for $635m.