Executed deals have remained relatively steady in Q2 2020 despite the potential challenges presented by completing deals during the COVID-19 pandemic, with 12 deals publicly announced, according to PwC.
With a number of smaller value deals, the overall total estimated liabilities transacting dropped from $2.1 billion in Q1 2020 to $1.3 billion in Q2 2020.
Additionally, six different consolidators have transacted during Q2 2020, bringing the total number of active market acquirers during the year to 10.
Apart from one transaction where the purchaser has not been disclosed, these were all established market participants.
PwC notes that, given the current market environment and opportunities in the sector, they expect to see some new entrants announce deals before the end of the year.
North America meanwhile has been the most active in terms of volume and value of deals, continuing recent trends, but PwC expect the UK, within Lloyd’s in particular, to see deal activity increase as the year progresses.
Whilst currently behind the figures for 2019 in terms of value, PwC says 2020 continues to be a strong transaction year and the volume of deals has outpaced the same period last year.
