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  1. Deals Analysis
April 28, 2021

North America’s insurance industry saw a rise of 109.09% in deal activity during March 2021

By Carmen

North America’s insurance industry saw a rise of 109.09% in deal activity during March 2021, when compared with the last 12-month average, led by $10.91bn acquisition of Apollo Global Management and Athene Holding, according to GlobalData’s deals database.

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A total of 23 insurance industry deals worth $13.95bn were announced for the region in March 2021, against the 12-month average of 11 deals.

Of all the deal types, M&A saw most activity in March 2021 with 16 transactions, representing a 69.6% share for the region.

In second place was venture financing with five deals, followed by private equity deals with two transactions, respectively capturing a 21.7% and 8.7% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s insurance industry with $13.72bn, followed by venture financing deals totalled $233.05m.

North America insurance industry deals in March 2021: Top deals

The top five insurance deals accounted for 99.1% of the overall value during March 2021.

The combined value of the top five insurance deals stood at $13.83bn, against the overall value of $13.95bn recorded for the month.

The top five insurance industry deals of March 2021 tracked by GlobalData were:

1) The $10.91bn merger of Apollo Global Management and Athene Holding

2) The $1.3bn asset transaction deal with Assurant by CUNA Mutual Group

3) Constellation Insurance Holdings’ $1bn acquisition of Ohio National Financial Services and Ohio National Mutual Holdings

4) The $500m acquisition of Title365 by Blend Labs

5) Acrew Capital, Allianz X, Elefund, Greycroft Partners, Moxley Holdings, SiriusPoint and SVB Capital’s venture financing of Pie Insurance Holdings for $118m.

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.

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