Total insurance industry M&A deals worth $10.4bn were announced globally in August 2021, led by Brookfield Asset Management Reinsurance Partners’ $5.1bn acquisition of American National Group, according to GlobalData’s deals database.

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The value marked an increase of 332.1% over the previous month of $2.4bn and a rise of 184.1% when compared with the last 12-month average, which stood at $3.65bn.

Comparing M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $9.13bn. At the country level, the US topped the list in terms of deal value at $9.13bn.

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

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The top country in terms of M&A deals activity in August 2021 was the US with 14 deals, followed by the Canada with three and Croatia with one.

In 2021, as of August, insurance M&A deals worth $34.35bn were announced globally, marking an increase of 65.5% year on year.

insurance industry M&A deals in August 2021: Top deals

The top five M&A deals accounted for 98.8% of the overall value during August 2021.

The combined value of the top five insurance M&A deals stood at $10.24bn, against the overall value of $10.4bn recorded for the month.

The top five insurance industry M&A 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