The UK insurance industry saw a rise of 17.7% in overall deal activity during Q3 2020, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 40 deals worth $5.41bn were announced in Q3 2020, compared to the last four-quarter average of 34 deals.
M&A was the leading category in the quarter with 31 deals which accounted for 77.5% of all deals.
In second place was private equity with five deals, followed by venture financing with four transactions, respectively accounting for 12.5% and 10% of overall deal activity in the country’s insurance industry during the quarter.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the UK insurance industry with total deals worth $3.24bn, while private equity and venture financing deals totalled $2.17bn and $2.29m, respectively.
The UK insurance industry deals in Q3 2020: Top deals
The top five insurance deals accounted for 99.4% of the overall value during Q3 2020.
The combined value of the top five insurance deals stood at $5.38bn, against the overall value of $5.41bn recorded for the month.
The top five insurance industry deals of Q3 2020 tracked by GlobalData were:
1) GIC and Massachusetts Mutual Life Insurance’s $2.66bn private equity deal with Rothesay Life
2) The $2.14bn acquisition of Hastings Group by Rand Merchant Investment Holdings and Sampo
3) Blackstone Tactical Opportunities Advisors and Fairfax Financial Holdings’ $500m private equity deal with Brit Group Services
4) The $42.45m private equity deal with Hyperion Insurance Group by Hg Saturn two Fund
5) Curtis Banks Group’s acquisition of Talbot and Muir for $32.11m.
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.
