Total insurance industry venture financing deals worth $821.5m were announced globally in Q3 2022, led by $315m venture financing of Pie Insurance Holdings, according to GlobalData’s deals database.

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The value marked an increase of 108.9% over the previous quarter and a drop of 2.8% when compared with the last four-quarter average, which stood at $845.43m.

Comparing deals value in different regions of the globe, North America held the top position, with total announced deals worth $439.73m in the period. At the country level, the US topped the list in terms of deal value at $421.73m.

In terms of volumes, North America emerged as the top region for insurance industry venture financing deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of venture financing deals activity in Q3 2022 was the US with 12 deals, followed by the UK with four and Australia with three.

In 2022, at the end of , venture financing deals worth $821.5m were announced globally in insurance industry, marking a decrease of 26.4% year on year.

venture financing deals in insurance industry in Q3 2022: Top deals

The top five venture financing deals in insurance industry accounted for 81.3% of the overall value during Q3 2022.

The combined value of the top five venture financing deals stood at $668m, against the overall value of $821.5m recorded for the quarter.

The top five insurance industry venture financing deals of Q3 2022 tracked by GlobalData were:

1) Acrew Capital, Allianz X, Centerbridge Partners, Gallatin Point Capital, Greycroft Growth and White Mountains Insurance Group’s $315m venture financing deal with Pie Insurance Holdings

2) The $126m venture financing of Carrot General Insurance by Affirma Capital, Altos Ventures, Hanwha Group and STIC Investments

3) Anthemis Group, Creandum, Daiichi, Eurazeo, Latitude – UK, LocalGlobe, MMC Ventures, Notion Capital, OurCrowd and Target Global’s $120m venture financing deal with Yu Life

4) The $65m venture financing of FairDee Insurance Broker by BRI Ventures, Daiwa PI Partners, Eurazeo, Flourish Ventures, Indogen Capital, KB Investments, MassMutual Ventures Southeast Asia, MDI Ventures, PT Mandiri Capital Indonesia, Salt Ventures, SeedPlus Singapore and Sequoia Capital India

5) Aquiline Technology Growth, Assaf Wand, Bill Tai, Foundation Capital, Jerry Yang and Oren Zeev’s $42m venture financing deal with Fairmatic