Europe’s insurance industry saw a rise of 4.3% in overall deal activity during Q3 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
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A total of 73 deals worth $5.5bn were announced for the region during Q3 2020, against the last four-quarter average of 70 deals.
Of all the deal types, M&A saw most activity in Q3 2020 with 48, representing a 65.8% share for the region.
In second place was venture financing with 17 deals, followed by private equity deals with eight transactions, respectively capturing a 23.3% and 11% share of the overall deal activity for the quarter.
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By GlobalDataIn terms of value of deals, private equity was the leading category in Europe’s insurance industry with $3.24bn, while M&A and venture financing deals totalled $2.18bn and $88.99m, respectively.
Europe insurance industry deals in Q3 2020: Top deals
The top five insurance deals accounted for 97.7% of the overall value during Q3 2020.
The combined value of the top five insurance deals stood at $5.38bn, against the overall value of $5.5bn recorded for the quarter.
The top five insurance industry deals of Q3 2020 tracked by GlobalData were:
1) GIC and Massachusetts Mutual Life Insurance’s $2.66bn private equity deal with Rothesay Life
2) The $2.14bn acquisition of Hastings Group by Rand Merchant Investment Holdings and Sampo
3) Blackstone Tactical Opportunities Advisors and Fairfax Financial Holdings’ $500m private equity deal with Brit Group Services
4) The $42.45m private equity deal with Hyperion Insurance Group by Hg Saturn two Fund
5) Curtis Banks Group’s acquisition of Talbot and Muir for $32.11m.
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.
