Total non-life insurance industry deals worth $14.35bn were announced globally for March 2021, with the $10.91bn merger of Apollo Global Management and Athene Holding being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked an increase of 1565.1% over the previous month of $861.82m and a rise of 869.6% when compared with the last 12-month average of $1.48bn.

In terms of number of deals, the sector saw a rise of 76.92% with 23 deals in March 2021 when compared to the last 12-month average of 13 deals.

In value terms, North America led the activity with deals worth $12.94bn in March 2021.

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non-life insurance industry deals in March 2021: Top deals

The top five deals accounted for 97.9% of the overall value during March 2021.

The combined value of the top five deals stood at $14.04bn, against the overall value of $14.35bn recorded for the month.

The top five non-life insurance industry deals of March 2021 tracked by GlobalData were:

1) The $10.91bn merger of Apollo Global Management and Athene Holding

2) The $1.3bn asset transaction with Assurant by CUNA Mutual Group

3) Allianz and CNP Assurances’ $1.18bn asset transaction with Aviva

4) The $500m acquisition deal of Title365 by Blend Labs

5) Balderton Capital, DST Global, General Catalyst Partners, Latitude Investment Management and Taavet Hinrikus’ venture financing deal with Extracover for $150m.