Total insurance industry deals for May 2020 worth $5.29bn were announced globally, according to GlobalData’s deals database.

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The value marked an increase of 126.7% over the previous month and a drop of 32.9% when compared with the last 12-month average of $7.87bn.

In terms of number of deals, the sector saw a drop of 46.9% over the last 12-month average with 52 deals against the average of 98 deals.

In value terms, Asia-Pacific led the activity with deals worth $3.75bn.

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Insurance industry deals in May 2020: Top deals

The top five insurance deals accounted for 80.03% of the overall value during May 2020.

The combined value of the top five insurance deals stood at $4.23bn, against the overall value of $5.29bn recorded for the month.

The top five insurance industry deals of May 2020 tracked by GlobalData were:

1) Sony’s $3.73bn acquisition of Sony Financial Holdings

2) The $265.76m acquisition of Associated Benefits and Risk Consulting by USI Insurance Services

3) Aspect Ventures, Elefund, Gallatin Point Capital, Greycroft Partners, Sirius International Insurance Group and SVB Capital’s $127m venture financing of Pie Insurance Holdings

4) The $90m venture financing of Coalition by Felicis Ventures, Greenoaks Capital Management, Greyhound Capital Europe, Hillhouse Capital Group, Ribbit Capital, Valor Equity Partners and VY Capital

5) GRAWE Group’s acquisition of Eurolink OsiguruvanjeSkopje for $18.94m.

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.