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Re/insurance deals total $4.61bn in September: GlobalData

8th November 2019 - Author: Matt Sheehan

Total insurance and reinsurance industry deals worth $4.61 billion were announced globally in September 2019, according to data and analytics firm GlobalData.

The company’s deals database showed a 17.05% decrease in value over the previous month and a drop of 20.5% when compared with the last 12-month average of $5.8 billion.

In terms of number of deals, the sector saw a drop of 8.7% over the last 12-month average with 84 deals against the average of 92 deals.

In value terms, Globaldata observed that North America led the activity with deals worth $4.49 billion.

The top five insurance deals accounted for 79.4% of the overall value during September 2019, with their combined total amounting to $3.66 billion, against the overall value of $4.61 billion for the month.

Prudential Financial’s $3.5 billion acquisition of Assurance IQ was by far the largest deal of the month, with the $80 million private equity deal between Pareto Health and Great Hill Partners trailing well behind in second place.

Also included in the top-five deals for September was the $32 million venture financing of Bold Penguin by Guggenheim Partners, Hudson Structured Capital Management, LSV Capital Management, Lockton and Stone Point Capital.

Then, behind this was the $28.29 million venture financing of Hangzhou Fansheng Technology by Bertelsmann Asia Investments, Lightspeed China Partners, YF Capital and Zhen Fund.

Finally, Globaldata highlighted the $24.5 million venture financing of Vouch by 500 Startups Management, Index Ventures (UK), Ribbit Capital, SVB Financial Group and Y Combinator Management.

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