Total insurance industry deals worth $577.7m were announced globally for November 2022, with The Ardonagh Group’s $319.58m acquisition deal with Envest being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 88.5% over the previous month of $5.02bn and a drop of 82.9% when compared with the last 12-month average of $3.37bn.

In terms of number of deals, the sector saw a drop of 24.44% with 34 deals in November 2022 when compared to the last 12-month average of 45 deals.

In value terms, Asia-Pacific led the activity with deals worth $524.08m in November 2022.

insurance industry deals in November 2022: Top deals

The top five deals accounted for 97.4% of the overall value during November 2022.

The combined value of the top five deals stood at $562.42m, against the overall value of $577.7m recorded for the month.

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

1) The Ardonagh Group’s $319.58m acquisition deal with Envest

2) The $103.1m acquisition of 5.17% stake in Max Life insurance by Max Financial Services

3) Meiji Yasuda Life Insurance’s $100.1m acquisition deal for 2% stake in Thai Life Insurance PublicLtd

4) The $22.5m venture financing of Glow Insurance Services by AV8 Ventures, Cota Capital Management, Finext Startup Venture Capital Fund Management, Maiden Re Insurance Services and Markd

5) Companion Fund, DMG ventures, DN Capital, FJ Labs, Helvetia Venture Fund, MTech Capital Management, Picus Capital, Sarona Partners and T-0 Ventures’s $17.14m venture financing deal with Napo