Total life insurance industry deals worth $1.6bn were announced globally for June 2021, with the $350m venture financing of Bought By Many being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked an increase of 66.5% over the previous month of $948.79m and a drop of 60.9% when compared with the last 12-month average of $4.04bn.
In terms of number of deals, the sector saw a rise of 16.67% with 28 deals in June 2021 when compared to the last 12-month average of 24 deals.
In value terms, Asia-Pacific led the activity with deals worth $1.03bn in June 2021.
life insurance industry deals in June 2021: Top deals
The top five deals accounted for 37.8% of the overall value during June 2021.
The combined value of the top five deals stood at $596.54m, against the overall value of $1.6bn recorded for the month.
The top five life insurance industry deals of June 2021 tracked by GlobalData were:
1) CommerzVentures, EQT Growth, FTV Capital, Munich Re Ventures, Octopus Ventures and Willoughby Capital Management’s $350m venture financing of Bought By Many
2) The $80.22m private equity deal with Max Financial Services by GIC
3) Arachas Corporate Brokers’ $71.43m acquisition of Hooper Dolan Insurances
4) The $49.9m acquisition of of Holmarcom Insurance Activities by International Finance
5) Apis Partners, IIFL Wealth Managment and Lok Capital’s venture financing with D2C Insurance Broking for $45m.