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  1. Deals Analysis
May 27, 2019

US insurance industry sees a flat growth in deal activity in April 2019

By Carmen

The US insurance industry saw a flat growth in overall deal activity during April 2019, when compared with the last 12-month average, according to GlobalData’s deals database.

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A total of 48 deals worth $4.4bn were announced in April 2019, compared to the 12-month average of 48 deals.

M&A was the leading category in the month in terms of volume with 37 deals which accounted for 77.1% of all deals.

In second place was venture financing with seven deals, followed by private equity with four transactions, respectively accounting for 14.6% and 8.3% of overall deal activity in the country’s insurance industry during the month.

In terms of value of deals, M&A was the leading deal category in the US insurance industry with total deals worth $2.25bn, while private equity and venture financing deals totalled $1.8bn and $349.4m, respectively.

US insurance industry deals in April 2019: Top deals

The top five insurance industry deals accounted for 99.5% of the overall value during April 2019.

The combined value of the top five insurance industry deals stood at $4.38bn, against the overall value of $4.4bn recorded for the month. The top announced US insurance industry deal tracked by GlobalData in April 2019 was Onex Partners V’s $1.8bn private equity deal with Convex Re.

In second place was the $1.2bn asset transaction with Wells Fargo by Principal Financial Group and in third place was American Family Insurance Group’s $1.05bn asset transaction with Ameriprise Financial.

The $300m venture financing of Lemonade by Allianz Capital Partners, General Catalyst Partners, GV Management Co, OurCrowd, SoftBank Group and Thrive Capital and Bee Partners, Canaan Partners, Manulife Capital, Nyca Partners, Tola Capital and XL Innovate’s venture financing of Embroker for $28m 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.

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.

 

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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