Deals across financial services industry total $32b

29 January 2020
| By Oksana Patron |
image
image
expand image

Global financial services industry deals were worth $32 billion in December 2019, which represented a decrease of 23.7% over the previous month and a rise of 21.25% when compared with the last 12-month average ($26.4 billion), according to GlobalData’s deals database.

As far as the number of deals were concerned, the sector saw a drop of 2.4% over the last 12-month average with 286 deals against the average of 293 deals.

Also, the study found that Europe led the activity with deals worth $11.61 billion while the top five financial services deals accounted for 47.7% of the overall value during in December 2019 with the combined value standing at $15.27 billion.

The top deals included the asset transaction from Resolution Life, which acquired the AMP insurance business, with Voya Financial valued $1.25 billion. The transaction was ranked fifth among the top five.

The other deals included New York Life Insurance’s $6.3 billion asset transaction with Cigna at number one, the $4.27 billion acquisition of ReAssure Group by Phoenix Group Holdings at number two.

FOINS Blockchain’s $2.1 billion acquisition of AliExchange and the $1.35 billion acquisition of PT Bank Permata by Bangkok Bank Public which were the third and fourth biggest deals, respectively.

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago