Total insurance industry deals for May 2019 worth $1.59bn were announced globally, according to GlobalData’s deals database.

The value marked a decrease of 67.9% over the previous month and a drop of 76.4% when compared with the last 12-month average of $6.74bn.

In terms of number of deals, the sector saw a rise of 3.3% over the last 12-month average with 93 deals against the average of 90 deals.

In value terms, Europe led the activity with deals worth $1.18bn.

Insurance industry deals in May 2019: Top deals

The top five insurance deals accounted for 77.8% of the overall value during May 2019.

The combined value of the top five insurance deals stood at $1.24bn, against the overall value of $1.59bn recorded for the month. The top announced insurance deal tracked by GlobalData in May 2019 was Allianz (UK)’s $729.42m acquisition of Liverpool Victoria General Insurance Group.

In second place was the $305.4m asset transaction with Legal & General Group by Allianz and in third place was Madison Dearborn Partners’ $104.41m private equity deal with The Ardonagh Group.

The $57m asset transaction with Mercer by Morneau Shepell and Greenoaks Capital Management, Hillhouse Capital Group and Ribbit Capital’s venture financing of Coalition for $40m held fourth and fifth positions, respectively.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.