Total insurance industry M&A deals worth $3bn were announced globally in Q3 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 a decrease of 48% over the previous quarter of $5.69bn and a drop of 74.9% when compared with the last four-quarter average, which stood at $11.78bn.

Comparing M&A deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $1.54bn. 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 Europe and then Asia-Pacific.

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The top country in terms of M&A deals activity in Q3 2022 was the US with 42 deals, followed by the UK with 11 and Germany with five.

In 2022, at the end of , M&A deals worth $26.04bn were announced globally in insurance industry, marking a decrease of 54.1% year on year.

M&A deals in insurance industry in Q3 2022: Top deals

The top five M&A deals in insurance industry accounted for 54.1% of the overall value during Q3 2022.

The combined value of the top deals stood at $2.33bn, against the overall value of $3bn recorded for the quarter.

The top five insurance industry insurance deals of Q3 2022 tracked by GlobalData were:

1) The Dai-ichi Life Insurance’s $630m acquisition deal with Partners Life

2) The $612.92m asset transaction of AXA Germany by Athora Deutschland Holding GmbHKG

3) CNP Assurances’s $507.61m acquisition deal for 49% stake in CNP Vita Assicura

4) The $326.78m acquisition of SunLife by Phoenix Group

5) Sagicor Financial’s $250.41m acquisition deal with ivari