Total insurance industry M&A deals worth $1.6bn were announced globally in August 2022, led by The Dai-ichi Life Insurance’s $630m acquisition of Partners Life, according to GlobalData’s deals database.

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The value marked an increase of 110.6% over the previous month of $740.72m and a drop of 51.9% when compared with the last 12-month average, which stood at $3.24bn.

Comparing M&A deals value in different regions of the globe, Asia-Pacific held the top position, with total announced deals in the period worth $894.15m. At the country level, the New Zealand topped the list in terms of deal value at $630m.

In terms of volumes, North America emerged as the top region for insurance industry M&A deals globally, followed by Asia-Pacific and then Europe.

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The top country in terms of M&A deals activity in August 2022 was the US with 12 deals, followed by the UK with four and Australia with two.

In 2022, as of August, insurance M&A deals worth $23.64bn were announced globally, marking an increase of 33.4% year on year.

insurance industry M&A deals in August 2022: Top deals

The top five M&A deals accounted for 99.1% of the overall value during August 2022.

The combined value of the top five insurance M&A deals stood at $1.54bn, against the overall value of $1.6bn recorded for the month.

The top five insurance industry M&A 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