Deals across financial services industry total $32b
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.
AUTHOR
Oksana Patron
Recommended for you
Sequoia Financial Group has declined by five financial advisers in the past week, four of whom have opened up a new AFSL, according to Wealth Data.
Insignia Financial chief executive Scott Hartley has detailed whether the firm will be selecting an exclusive bidder for the second phase of due diligence as it awaits revised bids from three private equity players.
Insignia Financial has reported a statutory net loss after tax of $17 million in its first half results, although the firm has noted cost optimisation means this is an improvement from a $50 million loss last year.
With alternative funds being described as “impossible” for fund managers to target towards advisers without the support of BDMs for education, Money Management explores the evolving nature of the distribution role.
