US financial services industry saw a drop of 2.54% in overall deal activity during June 2021, when compared with the last 12-month average, led by Allstate’s $300m acquisition of SafeAuto Insurance, according to GlobalData’s deals database.

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A total of 115 deals worth $2bn were announced in June 2021, compared with the 12-month average of 118 deals.

M&A was the leading category in the month in terms of volume with 67 deals, which accounted for 58.3% of all deals.

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In second place was venture financing with 38 deals, followed by private equity with ten transactions, respectively accounting for 33.04% and 8.7% of overall deal activity in the US technology industry during the month.

In terms of value of deals, M&A was the leading deal category in the US financial services industry with total deals worth $1.09bn, while venture financing and private equity deals totalled $827.18m and $100m, respectively.

US financial services industry deals in June 2021: Top deals

The top five financial services industry deals accounted for 49.5% of the overall value during June 2021.

The combined value of the top five financial services deals stood at $996.9m, against the overall value of $2bn recorded for the month.

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

1) Allstate’s $300m acquisition of SafeAuto Insurance

2) The $219m acquisition of County Bancorp by Nicolet National Bank

3) Felicis Ventures, General Atlantic, Generation Investment Management, Greyhound Capital Europe and Propel Ventures’ $200m venture financing of Guideline

4) The $146.3m acquisition deal with Landmark Community Bank by Simmons First National

5) Simmons First National’s acquisition of Triumph Bancshares for $131.6m.