Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Life Insurance

Insurance M&A Activity Strong

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, July 18, 4:35 p.m. – Mergerstat Holdings L.P., Los Angeles, says insurance industry mergers and acquisitions have bucked the slump in the general U.S. M&A market.

A total of 147 insurance industry deals were announced in the first half of the year, compared with a total of 121 for the first half of 2000. Total insurance deal value increased to $32.3 billion, from $12.3 billion, Mergerstat says.

Top life insurance deals announced in the first six months of 2001 were American International Group Inc.’s proposed purchase of American General Corp. for $22.9 billion; Liberty Mutual Group’s buyback of Liberty Financial Companies for $1.6 billion; General Electric Company’s bid for National Mutual Life Assurance Society, valued at $808.6 million; Old Mutual P.L.C.’s purchase of St. Paul Companies Inc. for $675 million; and Prudential Insurance Company of America’s $403 million acquisition of Japan’s Kyoei Life Insurance Co. Ltd.

For all industries, 4,293 deals were announced in the first six months of the year, down from 5,239 in the first half of 2000, Mergerstat says.


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.