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Global insurance deal value tops $22 billion in Q3

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Insurance industry deals around the globe reached a value of $US15.17 billion ($22.17 billion) in the third quarter, GlobalData says.

Deal value was up by half in the third quarter but lower by 27% than the average of the last four-quarters, when the number of deals rose 13% to 302.

North America led third-quarter activity by value, with deals worth $US9.27 billion ($13.55 billion), and the top five insurance deals accounted for 66% of the overall value.

The top deals were:

  • Prudential Financial’s $US3.5 billion ($5.12 billion) acquisition of Assurance IQ
  • The $US3.01 billion ($4.4 billion) acquisition of SCB Life Assurance Public by FWD Group Financial Services
  • Brookfield Business Partners’ $US1.93 billion ($2.82 billion) acquisition of Genworth MI Canada
  • The $US753.3 million ($1.1 billion) acquisition of Frank Cowan and The Guarantee of North America by Intact Financial
  • Allianz’s asset deal with Sul America for $US741.72 million ($1.08 billion)