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Re/insurance industry deals total $14.31bn in December: GlobalData

29th January 2020 - Author: Matt Sheehan

Global re/insurance industry deals during the month of December 2019 totalled $14.31 billion, according to data and analytics firm GlobalData.

This marked an increase of 233.5% over the previous month and a rise of 224.4% when compared with the last 12-month average of $4.41 billion.

In terms of number of deals, GlobalData noted a drop of 3.1% over the last 12-month average with 93 deals against the average of 96 deals.

Looking at the results by geography, North America was the most active region with deals worth $9.02 billion.

Just five deals dominated the deal landscape in December, accounting for $13.17 billion, or 92.1% of the overall value.

According to GlobalData, the top deals consisted of New York Life Insurance’s $6.3 billion asset transaction with Cigna, the $4.27 billion acquisition of ReAssure Group by Phoenix Group Holdings, and Resolution Life Holdings’ $1.25 billion asset transaction with Voya Financial.

Also of note was the $720 million acquisition of IAS Parent Holdings by IA Financial Group, and the $635 million venture financing of Bright Health.

At $14.31 billion, the recorded deal value in December is only slightly below the $15.17 billion figure that GlobalData recorded across the whole of Q3 2019.

This indicates that overall Q4 deal values will be well up on the previous quarter, which was in turn 51% higher than in Q2.

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