Although merger and acquisition activity slowed in 2016, that doesn't appear to be the same picture for 2017. According to the most recent report from PwC, "US Insurance Deals Insights 1H2017," M&A activity in the insurance sector more than tripled to $10 billion in the first half of 2017 compared to $2.9 billion the same time period last year.

The largest announced deal in the first half of 2017 came from the brokerage section with the acquisition of USI by an investor group that included private equity firm KKR and Canadian pension fund CDPQ. The price tag? $4.3 billion.

Two other deals in the early part of the year were also valued at more than $1 billion:

|
  • In May of 2017, a special purpose acquisition company, CF Corporation, including funds affiliated with Blackstone and Fidelity National Financial, announced $1.8 billion acquisition of annuities and life insurer Fidelity & Guaranty Life.
  • Canada's largest P&C insurer, Intact Financial, acquired specialty insurer OneBeacon from White Mountains for $1.7 billion.
|

Insurance brokers most active

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Rosalie Donlon

Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].

Commercial Lines
Commercial Lines
Coverage & Policy Issues
E&S/Specialty
Personal Lines
Reinsurance