Total insurance industry M&A deals worth $17.55bn were announced in North America in Q1 2021, led by $10.91bn merger of Apollo Global Management and Athene Holding, according to GlobalData’s deals database.
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The value marked an increase of 284.03% over the previous quarter and a rise of 473.5% when compared with the last four-quarter average of $3.06bn.
North America held a 73.25% share of the global insurance industry M&A deal value that totalled $23.96bn in Q1 2021. With a 73.25% share and deals worth $17.55bn, the US was the top country in North America’s M&A deal value across insurance industry.
In terms of deal activity, North America recorded 37 deals during Q1 2021, marking an increase of 12.12% over the previous quarter and a rise of 76.19% over the last four-quarter average. The US recorded 33 deals during the quarter.
North America insurance industry M&A deals in Q1 2021: Top deals
The top five insurance industry M&A deals accounted for 98.05% of the overall value during Q1 2021.
The combined value of the top five M&A deals stood at $17.21bn, against the overall value of $17.55bn recorded for the quarter.
The top five insurance industry deals of Q1 2021 tracked by GlobalData were:
1) The $10.91bn merger of Apollo Global Management and Athene Holding
2) The $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance by Massachusetts Mutual Life Insurance
3) CUNA Mutual Group’s $1.3bn asset transaction with Assurant
4) The $1bn acquisition of Ohio National Financial Services and Ohio National Mutual Holdings by Constellation Insurance Holdings
5) Blend Labs’ acquisition of Title365 for $500m.