Total financial services industry M&A deals worth $4.78bn were announced in the US in January 2021, with Massachusetts Mutual Life Insurance’s $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance being the sector’s biggest investment, according to GlobalData’s deals database.
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The value marked a decrease of 78.8% over the previous month of $22.49bn and a drop of 30.7% when compared with the last 12-month average of $6.9bn.
The US held a 31.89% share of the global financial services industry M&A deal value that totalled $14.99bn in January 2021.
In terms of M&A deal activity, the US recorded 110 deals during January 2021, marking a decrease of 20.86% over the previous month and a rise of 37.50% over the 12-month average.
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By GlobalDataUS financial services industry M&A deals in January 2021: Top deals
The top five financial services industry M&A deals accounted for 99.2% of the overall value during January 2021.
The combined value of the top five financial services M&A deals stood at $4.74bn, against the overall value of $4.78bn recorded for the month.
The top five financial services industry M&A deals of January 2021 tracked by GlobalData were:
1) Massachusetts Mutual Life Insurance’s $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance
2) The $900m acquisition of Boston Private Financial by SVB Financial Group
3) Stock Yards Bancorp’ $190m acquisition of Kentucky Bancshares.
4) The $100m acquisition of Homeowners of America Holding by Porch.com
5) GreenBox POS’s acquisition of ChargeSavvy for $52m.
