Total insurance industry cross border deals worth $3.7bn were announced globally for June 2021, with the $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 285.8% over the previous month of $964.25m and a rise of 21.6% when compared with the last 12-month average of $3.06bn.

In terms of number of cross border deals, the sector saw a rise of 109.09% with 23 deals in June 2021 when compared to the last 12-month average of 11 deals.

In value terms, Asia-Pacific led the activity with cross border deals worth $3.61bn in June 2021.

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insurance industry cross border deals in June 2021: Top deals

The top five cross border deals accounted for 72.9% of the overall value during June 2021.

The combined value of the top five cross border deals stood at $2.71bn, against the overall value of $3.7bn recorded for the month.

The top five insurance industry cross border deals of June 2021 tracked by GlobalData were:

1) AIALimited’s $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd

2) The $467.37m acquisition of CommInsure by Hollard Insurance Group

3) HDFC Bank’s $257.18m acquisition of HDFC ERGO General InsuranceLimited

4) The $80.22m private equity deal for 1.75% stake in Max Financial Services by GIC

5) International Finance’s acquisition deal with Holmarcom Insurance Activities for $49.9m.