Europe’s insurance industry saw a drop of 14.9% in overall deal activity during Q4 2018, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 63 deals worth $8bn were announced for the region during Q4 2018, against the four-quarter average of 74 deals.
Of all the deal types, M&A saw most activity in Q4 2018 with 50, representing a 79.4% share for the region.
In second place was venture financing with eight deals, followed by private equity deals with five transactions, respectively capturing a 12.7% and 7.9% share of the overall deal activity for the quarter.
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By GlobalDataIn terms of value of deals, M&A was the leading category in Europe’s insurance industry with $6.37bn, while private equity and venture financing deals totalled $1.58bn and $53.9m, respectively.
Europe insurance industry deals in Q4 2018: Top deals
The top five insurance deals accounted for 82.4% of the overall value during Q4 2018.
The combined value of the top five insurance deals stood at $6.59bn, against the overall value of $8bn recorded for the quarter. The top announced insurance deal tracked by GlobalData in Q4 2018 was Legal & General Assurance Society’s $3.15bn acquisition of Nortel Networks UK Pension Plan.
In second place was the $1.5bn acquisition of Tokio Millennium Re (UK) and Tokio Millennium Re by RenaissanceRe Holdings and in third place was CVC Advisers’ $1.03bn private equity deal with APRIL Group.
The $510.69m acquisition of Loyalis by ASR Nederland and MS&AD Insurance Group’s acquisition of ReAssure Jersey One for $398.41m held fourth and fifth positions, respectively.
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.
