In the global life insurance industry, there were 4 private equity deals announced in Q4 2023, worth a total value of $2.9bn, according to GlobalData’s Deals Database. The $2.7bn institutional buy-out (ibo) Global Atlantic Financial Group by KKR was the industry’s largest disclosed deal. A thorough analysis of the disruptive themes and the Private Equity deal activity are included in GlobalData’s Insurance Industry Mergers and Acquisitions Deals by Top Themes report. Buy the report here.

In value terms, private equity deal activity increased by 190% in Q4 2023 compared with the previous quarter’s total of $1bn. Related deal volume increased by 33% in Q4 2023 versus the previous quarter and was 100% higher than in Q4 2022.

Notably, fintech-related deals accounted for a 25% share of the global life insurance industry’s private equity deal activity in Q4 2023, registering a flat growth over the previous quarter.

The top-ranked financial advisors supporting these private equity deals in Q4 2023 were Barclays; Houlihan Lokey; Insurance Advisory Partners with 2, 2, 1 deals respectively.

The top-ranked legal advisors supporting these private equity deals in Q4 2023 were Kirkland & Ellis; Debevoise & Plimpton; Foley & Lardner with 4, 2, 1 deals respectively.

For further understanding of GlobalData's Insurance Industry Mergers And Acquisitions Deals By Top Themes In 2023 – Thematic Intelligence, buy the report here.

This content was updated on 8 January 2024

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Buyouts and Direct Investments done by Private Equity firms.