M&A Leaps in December

Total insurance industry deals leapt in December as firms sought to define their 2020 strategies.

The deals for last month were valued at $14.31 billion according to GlobalData’s deals database and driven by five major transactions.

The value 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, the sector saw a drop of 3.1% over the last 12-month average with 93 deals against the average of 96 deals.

In value terms, North America led the activity with deals worth $9.02 billion.

The top five insurance deals accounted for 92.1% of the overall value during December.

The combined value of the top five insurance deals stood at $13.17 billion, against the overall value of $14.31 billion recorded for the month according to GlobalData.

The top five insurance industry deals of December 2019 tracked by the firm were:

  1. New York Life Insurance’s $6.3 billion asset transaction with Cigna
  2. The $4.27 billion acquisition of ReAssure Group by Phoenix Group Holdings
  3. Resolution Life Holdings’ $1.25 billion asset transaction with Voya Financial
  4. The $720 million acquisition of IAS Parent Holdings by IA Financial Group
  5. Bessemer Venture Partners, Cross Creek Advisors, Declaration Partners, Flare Capital Partners, Greenspring Associates, Meritech Capital Partners, New Enterprise Associates, Redpoint Ventures and Town Hall Ventures’ venture financing of Bright Health for $635 million.