The US insurance industry saw a rise of 100% in overall deal activity during December 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 40 deals worth $4.15bn were announced in December 2020, compared to the 12-month average of 20 deals.
M&A was the leading category in the month in terms of volume with 32 deals which accounted for 80% of all deals.
In second place was venture financing with seven deals, followed by private equity with one transactions, respectively accounting for 17.5% and 2.5% of overall deal activity in the country’s insurance industry during the month.
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By GlobalDataIn terms of value of deals, M&A was the leading deal category in the US insurance industry with total deals worth $3.98bn, while private equity deals totalled $163.45m.
US insurance industry deals in December 2020: Top deals
The top five insurance industry deals accounted for 99.5% of the overall value during December 2020.
The combined value of the top five insurance deals stood at $4.13bn, against the overall value of $4.15bn recorded for the month.
The top five insurance industry deals of December 2020 tracked by GlobalData were:
1) Farmers Exchanges and Farmers Group’s $3.94bn acquisition of MetLife Auto & Home Insurance Agency
2) The $70m venture financing of Bestow Agency by Breyer Capital, Core Innovation Ventures, Morpheus Ventures, New Enterprise Associates, Sammons Financial Group and Valar Ventures Management
3) Assurant’s $43m acquisition of EPG Insurance
4) The $40m venture financing of Openly by Advance Venture Partners, Gradient Ventures, Greenlight Capital Re, Obvious Ventures and PJC.vc
5) Acrew Capital, Khosla Ventures, Lightspeed Management Company, M12, Munich Re Ventures, Qumra Capital and Shlomo Kramer’s venture financing of At-Bay for $34m.
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.
