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American General Deal Pumps Up Second Quarter M&A Totals

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NU Online News Service, July 10, 2:23 p.m. – SNL Securities L.C., Charlottesville, Va., says one giant acquisition helped pump up the life and health insurance deal count for the second quarter.

Insurers have announced 18 mergers and acquisitions for the second quarter with a value of $26.9 billion, up from 15 deals with a value of $6.4 billion in the second quarter of 2000, according to a report by Dail Willis, an SNL M&A analyst.

But the pending acquisition of American General Corp., Houston, by American International Group Inc., New York, accounted for $23.4 billion of the announced deal value for the latest quarter, Willis writes.

Excluding the AIG/American General deal, total life and health deal value was down 45%, Willis writes.

Managed care M&A activity has been especially light.

Managed care companies have announced only three deals this year, and those deals have a total announced value of less than $600 million, according to SNL.


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