North America’s financial services industry saw a rise of 22.38% in deal activity during March 2021, when compared with the last 12-month average, led by $10.91bn acquisition of Apollo Global Management and Athene Holding, according to GlobalData’s deals database.

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A total of 175 financial services industry deals worth $23.56bn were announced for the region in March 2021, against the 12-month average of 143 deals.

Of all the deal types, M&A saw most activity in March 2021 with 106 transactions, representing a 60.6% share for the region.

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In second place was venture financing with 55 deals, followed by private equity deals with 14 transactions, respectively capturing a 31.4% and 8% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s financial services industry with $20.27bn, while venture financing and private equity deals totalled $2.64bn and $653.28m, respectively.

North America financial services industry deals in March 2021: Top deals

The top five financial services deals accounted for 64.9% of the overall value during March 2021.

The combined value of the top five financial services deals stood at $15.29bn, against the overall value of $23.56bn recorded for the month.

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

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

2) The $1.3bn asset transaction deal with Assurant by CUNA Mutual Group

3) Ares Management’s $1.1bn acquisition of Landmark Partners

4) The $1bn acquisition of Ohio National Financial Services and Ohio National Mutual Holdings by Constellation Insurance Holdings

5) merger of Bryn Mawr Bank and WSFS Financial for $976.4m.