Total insurance industry deals for Q1 2019 worth $6.47bn were announced globally, according to GlobalData’s deals database.

The value marked a decrease of 75.9% over the previous quarter and a drop of 78.5% when compared with the last four-quarter average of $30.11bn.

In terms of number of deals, the sector saw a rise of 9% over the last four-quarter average with 280 deals against the average of 257 deals.

In value terms, Europe led the activity with deals worth $2.32bn.

Insurance industry deals in Q1 2019: Top deals

The top five insurance deals accounted for 59.6% of the overall value during Q1 2019.

The combined value of the top five insurance deals stood at $3.86bn, against the overall value of $6.47bn recorded for the quarter. The top announced insurance deal tracked by GlobalData in Q1 2019 was Protective Life & Annuity Insurance and Protective Life Insurance’s $1.2bn asset transaction with Great-West Life & Annuity Insurance.

In second place was the $1.03bn private equity deal with APRIL Group by CVC Advisers and in third place was CA Emerald Investments’ $647.68m private equity deal with SBI Life Insurance.

The $500m venture financing of Clover Health by Greenoaks Capital Management and Inflexion Private Equity Partners’ private equity deal with Quartz Insurance Brokers for $478.32m 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.