Total financial services industry cross border deals worth $3.6bn were announced globally for November 2022, with the $2.62bn asset transaction with Swiss INSUREVOLUTION Partners being the sector’s biggest investment, according to GlobalData’s deals database.

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The value marked a decrease of 69.7% over the previous month of $11.98bn and a drop of 55.5% when compared with the last 12-month average of $8.15bn.

In terms of number of cross border deals, the sector saw a drop of 31.20% with 86 deals in November 2022 when compared to the last 12-month average of 125 deals.

In value terms, Europe led the activity with cross border deals worth $2.92bn in November 2022.

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financial services industry cross border deals in November 2022: Top deals

The top five cross border deals accounted for 89.3% of the overall value during November 2022.

The combined value of the top five cross border deals stood at $3.24bn, against the overall value of $3.6bn recorded for the month.

The top five financial services industry cross border deals of November 2022 tracked by GlobalData were:

1) Octium Group’s $2.62bn asset transaction deal with Swiss INSUREVOLUTION Partners

2) The $319.58m acquisition of Envest by The Ardonagh Group

3) Viva China Consumables’s $130.71m acquisition deal for 49% stake in LionRock Capital Partners QiLe

4) The $100.1m acquisition of Thai Life Insurance PublicLtd by Meiji Yasuda Life Insurance

5) Atlas Merchant Capital Fund, Dawn Capital, G Squared and King River Capital’s $70m venture financing deal with Cover Genius