The UK insurance industry saw a drop of 6.5% in overall deal activity during Q4 2019, when compared with the last four-quarter average, according to GlobalData’s deals database. A total of 29 deals worth $4.86bn were announced in Q4 2019, compared to the last four-quarter average of 31 deals.
M&A was the leading category in the quarter with 24 deals which accounted for 82.8% of all deals.
In second place was private equity with three deals, followed by venture financing with two transactions, respectively accounting for 10.3% and 6.9% of overall deal activity in the country’s insurance industry during the quarter.
In terms of value of deals, M&A was the leading deal category in the UK insurance industry with total deals worth $4.28bn, while private equity and venture financing deals totalled $560m and $20.01m, respectively.
The UK insurance industry deals in Q4 2019: Top deals
The top five insurance deals accounted for 99.6% of the overall value during Q4 2019.
The combined value of the top five insurance deals stood at $4.84bn, against the overall value of $4.86bn recorded for the month.
The top five insurance industry deals of Q4 2019 tracked by GlobalData were:
- Phoenix Group Holdings’ $4.27bn acquisition of ReAssure Group
- The $560m private equity deal with Riverstone Management by Ontario Municipal Employees Retirement System
- Helios Underwriting’s $7.39m acquisition of Catbang 926
- The $4.36m acquisition of Carroll Insurance Group by PSC Insurance Group
- Seedrs’ venture financing of Pluto Services for $0.73m.