The UK insurance industry saw a drop of 14.3% in overall deal activity during Q4 2018, when compared with the last four-quarter average, according to GlobalData’s deals database.
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A total of 36 deals worth $5.39bn were announced in Q4 2018, compared to the last four-quarter average of 42 deals.
M&A was the leading category in the quarter with 31 deals which accounted for 86.1% of all deals.
In second place was venture financing with four deals, followed by private equity with one transactions, respectively accounting for 11.1% and 2.8% 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 $5.36bn, while private equity deals totalled $26.17m.
UK insurance industry deals in Q4 2018: Top deals
The top five insurance deals accounted for 98.6% of the overall value during Q4 2018.
The combined value of the top five insurance industry deals stood at $5.31bn, against the overall value of $5.39bn recorded for the quarter. The top announced UK insurance industry deal tracked by GlobalData in Q4 2018 was Legal & General Assurance Society’s $3.15bn acquisition of Nortel Networks UK Pension Plan.
In second place was the $1.5bn acquisition of Tokio Millennium Re (UK) and Tokio Millennium Re by RenaissanceRe Holdings and in third place was MS&AD Insurance Group’s $398.41m acquisition of ReAssure Jersey One.
The $134.81m acquisition of MSP Underwriting by Cincinnati Financial and Elm Bidco’s acquisition of GBGI for $131.8m held fourth and fifth positions, respectively.
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.
Verdict makes every effort to ensure the accuracy of its deals information. If you spot a mistake, or would like to notify us of a deal which should be included in this analysis, please email us at deals@globaldata.com
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.
