North America’s insurance industry saw a rise of 27.27% in deal activity during April 2021, when compared with the last 12-month average, led by American Family Ventures, Cox Enterprises, Eldridge Industries and OMERS Ventures’ $200m acquisition of Clearcover, according to GlobalData’s deals database.
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A total of 28 insurance industry deals worth $407.3m were announced for the region in April 2021, against the 12-month average of 22 deals.
Of all the deal types, M&A saw most activity in April 2021 with 18 transactions, representing a 64.3% share for the region.
In second place was venture financing with eight deals, followed by private equity deals with two transactions, respectively capturing a 28.6% and 7.1% share of the overall deal activity for the month.
In terms of value of deals, venture financing was the leading category in North America’s insurance industry with $218.43m, while private equity and M&A deals totalled $100m and $88.88m, respectively.
North America insurance industry deals in April 2021: Top deals
The top five insurance deals accounted for 98.4% of the overall value during April 2021.
The combined value of the top five insurance deals stood at $400.88m, against the overall value of $407.3m recorded for the month.
The top five insurance industry deals of April 2021 tracked by GlobalData were:
1) American Family Ventures, Cox Enterprises, Eldridge Industries and OMERS Ventures’ $200m venture financing of Clearcover
2) The $100m private equity deal with Friday Health Plans by Vestar Capital Partners
3) Molina Healthcare’s $60m asset transaction with Cigna
4) The $28.88m acquisition of E4:9 Holdings by Fathom Realty
5) LiveOak Venture Partners and SJF Ventures’ venture financing of Take Command Insurance Agency for $12m.
