There were 53 insurtech deals worldwide in the third quarter, a drop from 104 in July-September last year, Fintech Global says. 

The total follows 52 deals in the second quarter of this year and 65 in the first.

“If this trend continues, the projected total for deal activity in 2024 would be around 208 ... a notable 33% decrease from the 312 deals completed in 2023,” Fintech Global said. 

Sedgwick notched the largest deal, securing $US1 billion ($1.52 billion) in equity from Altas Partners to fund international expansion, technological advancement and operational resilience.  

Excluding the "outlier” Sedgwick deal, total third-quarter insurtech funding was about $US1.38 billion ($2.09 billion) and average deal size $US26 million ($39.42 million).