North America’s insurance industry saw a rise of 9.09% in deal activity during August 2021, when compared with the last 12-month average, led by Brookfield Asset Management Reinsurance Partners’ $5.1bn acquisition of American National Group, according to GlobalData’s deals database.
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A total of 24 insurance industry deals worth $9.3bn were announced for the region in August 2021, against the 12-month average of 22 deals.
Of all the deal types, M&A saw most activity in August 2021 with 17 transactions, representing a 70.8% share for the region.
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In second place was venture financing with five deals, followed by private equity deals with two transactions, respectively capturing a 20.8% and 8.3% 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 $9.13bn, followed by venture financing deals totalled $162.22m.
North America insurance industry deals in August 2021: Top deals
The top five insurance deals accounted for 98.6% of the overall value during August 2021.
The combined value of the top five insurance deals stood at $9.16bn, against the overall value of $9.3bn recorded for the month.
The top five insurance industry deals of August 2021 tracked by GlobalData were:
1) Brookfield Asset Management Reinsurance Partners $5.1bn acquisition deal with American National Group
2) The $3bn acquisition of The Hagerty Group by Aldel Financial
3) GuideWell Mutual Holding $900m acquisition deal with Triple-S Management
4) The $126m acquisition of 5% stake in Root Insurance by Carvana Group
5) 8VC,AutoTech Ventures,Daimler Trucks North America,McVestCo VC,Munich Re Ventures,Qualcomm Ventures and Weatherford Capital Management Services $32.5m venture financing deal with High Definition Vehicle Insurance