NU Online News Service, July 12, 2004, 6:14 p.m. EDT

Insurance companies announced 69 mergers and acquisitions in the second quarter, down slightly from 70 in the second quarter of 2003.[@@]

SNL Financial L.C., Charlottesville, Va., reports those figures in its latest quarterly M&A update.

Total insurance industry deal value increased to $5.3 billion, up from $4.6 billion for the comparable quarter of 2003, thanks to the announcement that UnitedHealth Group Inc., Minnetonka, Minn., has offered $5 billion for Oxford Health Plans Inc., Trumbull, Conn.