HDI Seguros’ $253.8m acquisition deal with Sompo Seguros was the Life insurance industry’s biggest cross border deal of Q2 2022 as cross border deals worth $514.9m were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 82.8% over the previous quarter and a drop of 85.5% when compared with the last four-quarter average of $3.54bn.

In terms of number of cross border deals, the sector saw a drop of 33.33% with 21 deals in Q2 2022 against the average of 31.50 deals in the last four-quarters.

In value terms, Europe led the activity with cross border deals worth $260.12m.

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Life insurance industry cross border deals in Q2 2022: Top deals

The top five Life insurance industry cross border deals accounted for 60.9% of the overall value during Q2 2022.

The combined value of the top five cross border deals stood at $313.71m, against the overall value of $514.9m recorded for the quarter.

The top five Life insurance industry cross border deals of Q2 2022 tracked by GlobalData were:

1) HDI Seguros $253.8m acquisition deal with Sompo Seguros

2) The $35m acquisition of Safety Nest by byFounders,Creandum,DG Ventures,Kinnevik and Mundi Ventures

3) Caroline Hjelm,Felix Capital Partners,Fredrik Hjelm,Inventure,Josefin Landgard,Karl-Johan Persson and Passion Capital $11.59m venture financing deal with Lassie

4) The $7m venture financing of Afficiency by IA Capital Group,Impression Ventures,SBLI USA Life InsuranceInc and Western & Southern Life

5) Munich Re Ventures $6.32m venture financing deal with Azos Tecnologia E Corretagem De Seguros