Total insurance industry deals worth $1.7bn were announced globally for August 2022, with the $630m acquisition of Partners Life being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 23% over the previous month of $1.35bn and a drop of 55.9% when compared with the last 12-month average of $3.76bn.

In terms of number of deals, the sector saw a drop of 4.88% with 39 deals in August 2022 when compared to the last 12-month average of 41 deals.

In value terms, Asia-Pacific led the activity with deals worth $894.15m in August 2022.

insurance industry deals in August 2022: Top deals

The top five deals accounted for 92.7% of the overall value during August 2022.

The combined value of the top five deals stood at $1.54bn, against the overall value of $1.7bn recorded for the month.

The top five insurance industry deals of August 2022 tracked by GlobalData were:

1) The Dai-ichi Life Insurance $630m acquisition deal with Partners Life

2) The $326.78m acquisition of SunLife by Phoenix Group

3) Sagicor Financial $250.41m acquisition deal with ivari

4) The $250.12m acquisition of 1.24% stake in Tokio Marine Newa Insurance by Tokio Marine & Nichido Fire Insurance

5) Everett Cash Mutual Insurance $85m acquisition deal with American Reliable Insurance