Total insurance industry deals worth $10.6bn were announced globally for August 2021, with the $5.1bn acquisition of American National Group being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 39.4% over the previous month of $7.59bn and a rise of 74.9% when compared with the last 12-month average of $6.05bn.

In terms of number of deals, the sector saw a drop of 2.44% with 40 deals in August 2021 when compared to the last 12-month average of 41 deals.

In value terms, North America led the activity with deals worth $9.29bn in August 2021.

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insurance industry deals in August 2021: Top deals

The top five deals accounted for 96.8% of the overall value during August 2021.

The combined value of the top five deals stood at $10.24bn, against the overall value of $10.6bn recorded for the month.

The top five insurance industry deals of August 2021 tracked by GlobalData were:

1) Brookfield Asset Management Reinsurance Partners $5.1bn acquisition deal with American National Group

2) The $3bn acquisition of The Hagerty Group by Aldel Financial

3) GuideWell Mutual Holding $900m acquisition deal with Triple-S Management

4) The $665.66m acquisition of Westpac Life Insurance Services by TAL Dai-ichi Life Australia

5) HSBC Insurance (Asia-Pacific) Holdings $575m acquisition deal with Axa Insurance