North America’s insurance industry saw a rise of 40% in deal activity during July 2021, when compared with the last 12-month average, led by Blackstone Group $2.2bn private equity deal for 9.9% stake in SAFG Retirement, according to GlobalData’s deals database.

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A total of 28 insurance industry deals worth $3bn were announced for the region in July 2021, against the 12-month average of 20 deals.

Of all the deal types, M&A saw most activity in July 2021 with 18 transactions, representing a 64.3% share for the region.

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In second place was venture financing with nine deals, followed by private equity deals with one transactions, respectively capturing a 32.1% and 3.6% share of the overall deal activity for the month.

In terms of value of deals, private equity was the leading category in North America’s insurance industry with $2.2bn, while M&A and venture financing deals totalled $570.5m and $259.47m, respectively.

North America insurance industry deals in July 2021: Top deals

The top five insurance deals accounted for 98.7% of the overall value during July 2021.

The combined value of the top five insurance deals stood at $2.99bn, against the overall value of $3bn recorded for the month.

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

1) Blackstone Group $2.2bn private equity deal for 9.9% stake in SAFG Retirement

2) The $398m acquisition of InTelCo Management by Delticus Holdco

3) At-Bay $185m venture financing deal with Acrew Capital,Glilot Capital Partners,HSB fund,Icon Ventures,Khosla Ventures,Lightspeed Venture Partners – US,M12,Qumra Capital and Shlomo Kramer

4) The $35m venture financing of Inshur by JVP,MTech Capital Management and Viola FinTech

5) Madison National Life InsuranceInc $172.5m acquisition deal with Horace Mann Educators