Total Life insurance industry deals worth $3.1bn were announced globally for May 2022, with the Carlyle Group $1.78bn private equity deal with NSM Insurance Group being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 288.2% over the previous month of $808.88m and a rise of 39.6% when compared with the last 12-month average of $2.25bn.

In terms of number of deals, the sector saw a drop of 25.81% with 23 deals in May 2022 when compared to the last 12-month average of 31 deals.

In value terms, North America led the activity with deals worth $2.44bn in May 2022.

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Life insurance industry deals in May 2022: Top deals

The top five deals accounted for 93.2% of the overall value during May 2022.

The combined value of the top five deals stood at $2.93bn, against the overall value of $3.1bn recorded for the month.

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

1) The Carlyle Group $1.78bn private equity deal with NSM Insurance Group

2) The $620m acquisition of Markel by Berkshire Hathaway

3) Santa LuciaCompania de Seguros y Reaseguros $377.78m acquisition deal with Seguros Y Reaseguros,Ccm Vida Y Pensiones De Seguros Y Reaseguros and Liberbank Vida Y Pensiones

4) The $110.8m acquisition of 6.8% stake in Societa Cattolica di Assicurazione by Assicurazioni Generali

5) Cap Table Coalition,Costanoa Ventures,Gusto,Homebrew,Norwest Ventures,Spark Capital and Workday Ventures $45m venture financing deal with Noyo Technologies