Total life insurance industry deals worth $754.5m were announced globally for March 2022, with the $278m acquisition of Blue Care JV (BVI)(Hong Kong) and Blue Cross (Asia-Pacific) Insurance being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 77.6% over the previous month of $3.37bn and a drop of 71.4% when compared with the last 12-month average of $2.64bn.

In terms of number of deals, the sector saw a drop of 10.00% with 27 deals in March 2022 when compared to the last 12-month average of 30 deals.

In value terms, Asia-Pacific led the activity with deals worth $370.19m in March 2022.

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life insurance industry deals in March 2022: Top deals

The top five deals accounted for 88.8% of the overall value during March 2022.

The combined value of the top five deals stood at $670.19m, against the overall value of $754.5m recorded for the month.

The top five life insurance industry deals of March 2022 tracked by GlobalData were:

1) AIA Group $278m acquisition deal with Blue Care JV (BVI)(Hong Kong) and Blue Cross (Asia-Pacific) Insurance

2) The $125m venture financing of PolicyGenius by AXA Venture Partners,Brighthouse Financial,Global Atlantic Financial Group,IA Financial Group,KKRInc,Lincoln Financial,Mass Mutual Ventures,Norwest Venture Partners,Pacific Life Insurance and Revolution Ventures

3) BBH Capital Partners $100m private equity deal with Synex Business Performance

4) The $92.19m acquisition of Aetna Health Insurance (Thailand) PublicLimited by Allianz Ayudhya Capital

5) AXA Venture Partners,FirstMark Capital,Georgian,Revelation Partners and Split Rock Partners $75m venture financing deal with Gravie