Total insurance industry M&A deals in Q3 2020 worth $11.09bn were announced in the US, according to GlobalData’s deals database.

The value marked an increase of 759.2% over the previous quarter and a rise of 113.2% when compared with the last four-quarter average of $5.2bn.

The US held a 76.4% share of the global insurance industry M&A deal value that totalled $14.51bn in Q3 2020.

In terms of deal activity, the US recorded 124 deals during Q3 2020, marking a rise of 47.6% over the previous quarter and a rise of 10.7% over the last four-quarter average.

The US insurance industry M&A deals in Q3 2020: Top deals

The top five insurance industry M&A deals accounted for 93.6% of the overall value during Q3 2020.

The combined value of the top five insurance M&A deals stood at $10.39bn, against the overall value of $11.09bn recorded for the month.

The top five insurance industry deals of Q3 2020 tracked by GlobalData were:

1) The Allstate’s $4.52bn acquisition of National General Holdings

2) The $3.35bn asset transaction with Massachusetts Mutual Life Insurance by Empower Retirement

3) MetLife’s $1.68bn acquisition of Versant 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.