The US insurance industry saw a rise of 19.2% in overall deal activity during July 2019, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 56 deals worth $776m were announced in July 2019, compared to the 12-month average of 47 deals.
M&A was the leading category in the month in terms of volume with 49 deals which accounted for 87.5% of all deals.
In second place was venture financing with five deals, followed by private equity with two transactions, respectively accounting for 8.9% and 3.6% 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 $671.75m, followed by venture financing deals with $104.25m.
US insurance industry deals in July 2019: Top deals
The top three insurance industry deals accounted for 89.8% of the overall value during July 2019.
The combined value of the top three insurance deals stood at $696.75m, against the overall value of $776m recorded for the month.
The top three insurance industry deals of July 2019 tracked by GlobalData were:
1) Jade Mountain Partners’s $384.25m acquisition of White Eagle Asset Portfolio
2) The $212.5m acquisition of The Hagerty Group by Markel
3) Bond, Comcast Ventures, Felicis Ventures, Fifth Wall Ventures Management, Hillhouse Capital Group, Horizons Ventures, ICONIQ Capital, Lennar, Michael Ovitz, Pipeline Capital Partners, Propel Venture Partners, RPM Ventures, STANDARD INDUSTRIES and Zeev Ventures’ $100m venture financing of Hippo Insurance Services
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.