Analysis of the key themes driving M&A activity reveals that insurtech accounted for 10 financial services deals announced in Q2 2023, worth a total value of $155.8m. The $155.8m acquisition of Drayden Insurance by Mcdougall Insurance Brokers was the industry’s largest disclosed deal. GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report for Q2 2023 unveils the driving forces behind the M&A activities in the industry, providing crucial insights into trends and shifts. Buy the report here.
In value terms, insurtech-related deal activity increased by 15480% in Q2 2023 compared with the previous quarter’s total of $1m. Related deal volume increased by 100% in Q2 2023 versus the previous quarter and was 43% higher than in Q2 2022.
The top-ranked legal advisors supporting these M&A deals in Q2 2023 were DSK Legal; Hule Bachmayr-Heyda Nordberg; Latham & Watkins with 1, 1, 1 deals respectively.
For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in Q2 2023 – Thematic Intelligence, buy the report here.