The UK financial services industry saw a drop of 3.8% in overall deal activity during Q3 2019, when compared with the last four-quarter average, according to GlobalData’s deals database.

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A total of 101 deals worth $28.64bn were announced in Q3 2019, compared to the last four-quarter average of 105 deals.

M&A was the leading category in the quarter with 65 deals which accounted for 64.4% of all deals.

In second place was venture financing with 29 deals, followed by private equity with seven transactions, respectively accounting for 28.7% and 6.9% of overall deal activity in the country’s financial services industry during the quarter.

In terms of value of deals, M&A was the leading deal category in the UK financial services industry with total deals worth $28.35bn, while private equity and venture financing deals totalled $242.21m and $52.38m, respectively.

The UK financial services industry deals in Q3 2019: Top deals

The top five financial services deals accounted for 97.7% of the overall value during Q3 2019.

The combined value of the top five financial services deals stood at $28bn, against the overall value of $28.64bn recorded for the month.

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

1) London Stock Exchange Group’s $27bn acquisition of Refinitiv

2) The $516.55m acquisition of Old Mutual Wealth Life Assurance by ReAssure Group

3) Sumitomo Mitsui Financial Group’s $186.47m acquisition of TT International Investment Management

4) The $175.26m acquisition of Charles Taylor by Jewel Bidco

5) ‘s merger of Miton Group and Premier Asset Management for $118.01m.

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.