North America’s financial services industry saw a rise of 18.38% in deal activity during July 2021, when compared with the last 12-month average, led by Liberty Mutual HoldingInc’s $2.29bn acquisition of State Auto Insurance Companies, according to GlobalData’s deals database.

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A total of 161 financial services industry deals worth $12.6bn were announced for the region in July 2021, against the 12-month average of 136 deals.

Of all the deal types, M&A saw most activity in July 2021 with 82 transactions, representing a 50.9% share for the region.

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In second place was venture financing with 64 deals, followed by private equity deals with 15 transactions, respectively capturing a 39.8% and 9.3% share of the overall deal activity for the month.

In terms of value of deals, M&A was the leading category in North America’s financial services industry with $6.66bn, while private equity and venture financing deals totalled $4.7bn and $1.28bn, respectively.

North America financial services industry deals in July 2021: Top deals

The top five financial services deals accounted for 62.1% of the overall value during July 2021.

The combined value of the top five financial services deals stood at $7.84bn, against the overall value of $12.6bn recorded for the month.

The top five financial services industry deals of July 2021 tracked by GlobalData were:

1) State Auto Insurance Companies $2.29bn acquisition deal with Liberty Mutual HoldingInc

2) The $2.2bn private equity of 9.9% stake in SAFG Retirement Services by The Blackstone Group

3) Generate Capital $2bn private equity deal with Andra AP-fonden,AustralianSuper,Aware Super,CBRE Caledon Capital Management,Harbert Management,QIC,Railways Pension TrusteeLimited and Wellcome Trust

4) The $600m acquisition of Parnassus Investments by Affiliated Managers Group

5) PayCertify $750m acquisition deal with Payment Reservations