Total non-life insurance industry deals for Q3 2020 worth $3.04bn were announced globally, according to GlobalData’s deals database.

The value marked an increase of 136.4% over the previous quarter and a rise of 2.3% when compared with the last four-quarter average of $2.97bn.

In terms of number of deals, the sector saw a drop of 2.7% over the last four-quarter average with 36 deals against the average of 37 deals.

In value terms, Europe led the activity with deals worth $2.15bn.

Non-life insurance industry deals in Q3 2020: Top deals

The top five non-life insurance deals accounted for 97.4% of the overall value during Q3 2020.

The combined value of the top five non-life insurance deals stood at $2.96bn, against the overall value of $3.04bn recorded for the month.

The top five non-life insurance industry deals of Q3 2020 tracked by GlobalData were:

1) Rand Merchant Investment Holdings and Sampo’s $2.14bn acquisition of Hastings Group

2) The $400m acquisition of Gainsco by State Farm Mutual Automobile Insurance

3) DARAG Group’s $240m asset transaction with Hallmark Financial Services

4) The $120m acquisition of People’s United Insurance Agency by AssuredPartners

5) Amazon.com, Intact Ventures, Munich Re Ventures and RPS Ventures’ venture financing of Acko General Insurance for $60m.

Verdict deals analysis methodology

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.