North America’s financial services industry saw a rise of 11.5% in overall deal activity during Q3 2019, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 408 deals worth $18.31bn were announced for the region during Q3 2019, against the last four-quarter average of 366 deals.

Of all the deal types, M&A saw most activity in Q3 2019 with 244, representing a 59.8% share for the region.

In second place was venture financing with 142 deals, followed by private equity deals with 22 transactions, respectively capturing a 34.8% and 5.4% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in North America’s financial services industry with $14.3bn, while venture financing and private equity deals totalled $3.12bn and $888.3m, respectively.

North America financial services industry deals in Q3 2019: Top deals

The top five financial services deals accounted for 59.3% of the overall value during Q3 2019.

The combined value of the top five financial services deals stood at $10.86bn, against the overall value of $18.31bn recorded for the quarter.

The top five financial services industry deals of Q3 2019 tracked by GlobalData were:

1) Prudential Financial’s $3.5bn acquisition of Assurance IQ

2) The $2.87bn acquisition of Banco Santander Mexico by Banco Santander

3) Brookfield Business Partners’ $1.93bn acquisition of Genworth MI Canada

4) The $1.8bn asset transaction with United Services Automobile Association by The Charles Schwab

5) Intact Financial’s acquisition of Frank Cowan and The Guaranteeof North America for $753.3m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.