North America’s insurance industry saw a rise of 109.09% in deal activity during March 2021

North America’s insurance industry saw a rise of 109.09% in deal activity during March 2021, when compared with the last 12-month average, led by $10.91bn acquisition of Apollo Global Management and Athene Holding, according to GlobalData’s deals database.

A total of 23 insurance industry deals worth $13.95bn were announced for the region in March 2021, against the 12-month average of 11 deals.

Of all the deal types, M&A saw most activity in March 2021 with 16 transactions, representing a 69.6% share for the region.

In second place was venture financing with five deals, followed by private equity deals with two transactions, respectively capturing a 21.7% and 8.7% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s insurance industry with $13.72bn, followed by venture financing deals totalled $233.05m.

North America insurance industry deals in March 2021: Top deals

The top five insurance deals accounted for 99.1% of the overall value during March 2021.

The combined value of the top five insurance deals stood at $13.83bn, against the overall value of $13.95bn recorded for the month.

The top five 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 deal with Assurant by CUNA Mutual Group

3) Constellation Insurance Holdings’ $1bn acquisition of Ohio National Financial Services and Ohio National Mutual Holdings

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

5) Acrew Capital, Allianz X, Elefund, Greycroft Partners, Moxley Holdings, SiriusPoint and SVB Capital’s venture financing of Pie Insurance Holdings for $118m.

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