Total non-life insurance industry deals for Q1 2019 worth $656.3m were announced globally, according to GlobalData’s deals database.
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The value marked a decrease of 69.5% over the previous quarter and a drop of 91.2% when compared with the last four-quarter average of $7.48bn.
In terms of number of deals, the sector saw a drop of 14% over the last four-quarter average with 37 deals against the average of 43 deals.
In value terms, Europe led the activity with deals worth $380.04m.
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By GlobalDataNon-life insurance industry deals in Q1 2019: Top deals
The top five non-life insurance deals accounted for 82.4% of the overall value during Q1 2019.
The combined value of the top five non-life insurance deals stood at $540.72m, against the overall value of $656.3m recorded for the quarter. The top announced non-life insurance deal tracked by GlobalData in Q1 2019 was Markerstudy’s $238.85m acquisition of Co-op Insurance.
In second place was the $128.87m venture financing of FRIDAY (Germany) by Baloise Holding, GMPVC German Media Pool and SevenVentures and in third place was Accel, Amazon.com, Binny Bansal, Intact Ventures, RPS Ventures, SAIF Partners and Techpro Ventures’ $65m venture financing of Acko General Insurance.
The $58m venture financing of CoverHound by Chubb Group Holdings, Aflac Corporate Ventures, Hiscox and MS&AD Insurance Group and Federated National Holding’s acquisition of ClaimCor, Maison Insurance and Maison Managers for $50m held fourth and fifth positions, respectively.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.