Led by $85m acquisition of American Reliable Insurance, the US life insurance industry saw a drop of 54.40% in overall deal activity during Q3 2022, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 22 deals worth $134.9m were announced in Q3 2022, compared with the last four-quarter average of 48.25 deals.

M&A was the leading category in the quarter with 17 deals which accounted for 77.3% of all deals.

In second place was venture financing with five deals, followed by with transactions, respectively accounting for 22.7% and % of overall deal activity in the US life insurance industry during the quarter.

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In terms of value of deals, M&A was the leading deal category in the US life insurance industry with total deals worth $85m, while venture financing and deals totalled $49.9m and respectively.

US life insurance industry deals in Q3 2022: Top deals

The top three life insurance industry deals accounted for 84.5% of the overall value during Q3 2022.

The combined value of the top three life insurance deals stood at $114m, against the overall value of $134.9m recorded for the quarter.

The top three life insurance industry deals of Q3 2022 tracked by GlobalData were:

1) Everett Cash Mutual Insurance’s $85m acquisition deal with American Reliable Insurance

2) The $15m venture financing of Modern Life Group by At-Bay, Cedar Cares, Flatiron Health, Hippo Holdings, Lattice, Newfront Insurance, Plaid, reddit, Thrive Capital and Vouch

3) Defy, EXOR, Framework, Morgan Creek Digital, SiriusPoint, Stratos and Tribe Capital’s $14m venture financing deal with Re Protocol