The US insurance industry saw a rise of 10.4% in overall deal activity during September 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 53 deals worth $7.31bn were announced in September 2020, compared to the 12-month average of 48 deals.
M&A was the leading category in the month in terms of volume with 44 deals which accounted for 83.02% of all deals.
In second place was venture financing with six deals, followed by private equity with three transactions, respectively accounting for 11.3% and 5.7% 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 $6.25bn, while private equity and venture financing deals totalled $793m and $270.5m, respectively.
US insurance industry deals in September 2020: Top deals
The top five insurance industry deals accounted for 87.03% of the overall value during September 2020.
The combined value of the top five insurance deals stood at $6.37bn, against the overall value of $7.31bn recorded for the month.
The top five insurance industry deals of September 2020 tracked by GlobalData were:
1) Empower Retirement’s $3.35bn asset transaction with Massachusetts Mutual Life Insurance
2) The $1.68bn acquisition of Versant Health by MetLife
3) Bessemer Venture Partners, Greenspring Associates, New Enterprise Associates, The Blackstone Group, Tiger Global Management and T Rowe Price Associates’ $500m venture financing of Bright Health
4) The $440m acquisition of FBL Financial Group by Farm Bureau Property & Casualty Insurance
5) State Farm Mutual Automobile Insurance’s acquisition of Gainsco for $400m.
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.
