Total financial services industry M&A deals worth $4.78bn were announced in North America in January 2021, led by Massachusetts Mutual Life Insurance’s $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance, according to GlobalData’s deals database.

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The value marked a decrease of 79.3% over the previous month of $23.13bn and a drop of 32.5% when compared with the last 12-month average of $7.08bn.

North America held a 31.89% share of the global financial services industry M&A deal value that totalled $14.99bn in January 2021. With a 31.89% share and deals worth $4.78bn, the US was the top country in North America’s M&A deal value across financial services industry.

In terms of M&A deal activity, North America recorded 119 deals during January 2021, marking a decrease of 24.20% over the previous month and a rise of 30.77% over the 12-month average. The US recorded 110 deals during the month.

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North America financial services industry M&A deals in January 2021: Top deals

The top five financial services industry M&A deals accounted for 99.1% of the overall value during January 2021.

The combined value of the top five financial services deals stood at $4.74bn, against the overall value of $4.78bn recorded for the month.

The top five financial services industry M&A deals of January 2021 tracked by GlobalData were:

1) Massachusetts Mutual Life Insurance’s $3.5bn acquisition of Annuity Investors Life Insurance, Great American Insurance Group and Manhattan Life Insurance

2) The $900m acquisition of Boston Private Financial by SVB Financial Group

3) Stock Yards Bancorp’s $190m acquisition of Kentucky Bancshares

4) The $100m acquisition of Homeowners of America Holding by Porch.com

5) GreenBox POS’s acquisition of ChargeSavvy for $52m.