’s $10.91bn merger deal with Apollo Global Management and Athene Holding was the financial services industry’s biggest deal of Q1 2021 as deals worth $87.96bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 8.8% over the previous quarter and a rise of 4.5% when compared with the last four-quarter average of $84.21bn.

In terms of number of deals, the sector saw a rise of 17.83% with 1097 deals in Q1 2021 against the average of 931.00 deals in the last four-quarters.

In value terms, North America led the activity with deals worth $54.76bn.

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financial services industry deals in Q1 2021: Top deals

The top five financial services industry deals accounted for 34.4% of the overall value during Q1 2021.

The combined value of the top five deals stood at $30.23bn, against the overall value of $87.96bn recorded for the quarter.

The top five financial services industry deals of Q1 2021 tracked by GlobalData were:

1) $10.91bn merger deals with Apollo Global Management and Athene Holding

2) The $7.6bn acquisition of People’s United Financial by M&T Bank

3) Groupe BPCE’s $4.34bn acquisition of Natixis

4) The $3.88bn acquisition of Aviva France by Aema Groupe

5) Massachusetts Mutual Life Insurance’s acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance for $3.5bn.