The US insurance industry saw a drop of 48% in overall deal activity during May 2020, when compared with the last 12-month average, according to GlobalData’s deals database.
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A total of 26 deals worth $1.49bn were announced in May 2020, compared to the 12-month average of 50 deals.
M&A was the leading category in the month in terms of volume with 20 deals which accounted for 76.9% of all deals.
In second place was venture financing with five deals, followed by private equity with one transactions, respectively accounting for 19.2% and 3.9% of overall deal activity in the country’s insurance industry during the month.
In terms of value of deals, M&A was the leading deal category in the US insurance industry with total deals worth $1.27bn, followed by venture financing deals totalled $226.45m.
US insurance industry deals in May 2020: Top deals
The top three insurance industry deals accounted for 32.4% of the overall value during May 2020.
The combined value of the top three insurance deals stood at $482.76m, against the overall value of $1.49bn recorded for the month.
The top three insurance industry deals of May 2020 tracked by GlobalData were:
1) USI Insurance Services’ $265.76m acquisition of Associated Benefits and Risk Consulting
2) The $127m venture financing of Pie Insurance Holdings by Aspect Ventures, Elefund, Gallatin Point Capital, Greycroft Partners, Sirius International Insurance Group and SVB Capital
3) Felicis Ventures, Greenoaks Capital Management, Greyhound Capital Europe, Hillhouse Capital Group, Ribbit Capital, Valor Equity Partners and VY Capital’s $90m venture financing of Coalition
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.
Visit our ‘Insurance Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the insurance industry.