Allianz’s $2.95bn acquisition deal with Aviva Poland was the financial services industry’s biggest cross border deal of Q1 2021 as cross border deals worth $22.26bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked a decrease of 58.1% over the previous quarter and a drop of 15.5% when compared with the last four-quarter average of $26.34bn.

In terms of number of cross border deals, the sector saw a rise of 26.42% with 305 deals in Q1 2021 against the average of 241.25 deals in the last four-quarters.

In value terms, Europe led the activity with cross border deals worth $9.79bn.

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financial services industry cross border deals in Q1 2021: Top deals

The top five financial services industry cross border deals accounted for 43.1% of the overall value during Q1 2021.

The combined value of the top five cross border deals stood at $9.6bn, against the overall value of $22.26bn recorded for the quarter.

The top five financial services industry cross border deals of Q1 2021 tracked by GlobalData were:

1) Allianz’s $2.95bn acquisition deals with Aviva Poland

2) The $2.4bn venture financing with Robinhood Financial by Andreessen Horowitz, ICONIQ Capital, Index Ventures, New Enterprise Associates, Ribbit Capital and Sequoia Capital Operations

3) TPG Sixth Street Partners’ $2bn private equity deal with Talcott Resolution

4) The $1.18bn asset transaction with Aviva by Allianz and CNP Assurances

5) Ares Management’s private equity with AMP for $1.07bn.