Total financial services industry M&A deals worth $19.1bn were announced globally in October 2021, led by Covea Mutual Insurance Group’s $9bn acquisition of PartnerRe, according to GlobalData’s deals database.

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The value marked an increase of 61.3% over the previous month of $11.82bn and a rise of 24.2% when compared with the last 12-month average, which stood at $15.35bn.

Comparing M&A deals value in different regions of the globe, South and Central America held the top position, with total announced deals in the period worth $9.01bn. At the country level, the Bermuda topped the list in terms of deal value at $9bn.

In terms of volumes, North America emerged as the top region for financial services industry M&A deals globally, followed by Europe and then Asia-Pacific.

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The top country in terms of M&A deals activity in October 2021 was the US with 63 deals, followed by the UK with 21 and Canada with 11.

In 2021, as of October, financial services M&A deals worth $159.5bn were announced globally, marking an increase of 3.4% year on year.

financial services industry M&A deals in October 2021: Top deals

The top five M&A deals accounted for 94.2% of the overall value during October 2021.

The combined value of the top five financial services M&A deals stood at $17.96bn, against the overall value of $19.1bn recorded for the month.

The top five financial services industry M&A deals of October 2021 tracked by GlobalData were:

1) Covea Mutual Insurance Group $9bn acquisition deal with PartnerRe

2) The $4.2bn acquisition of Oak Hill Advisors by T. Rowe Price Group

3) La Banque Postale $2.81bn acquisition deal for 16.1% stake in CNP Assurances

4) The $1.2bn acquisition of EnTie Commercial Bank by IBF Financial Holdings

5) Ally Financial $750m acquisition deal with Fair Square Financial Holdings