Mergers and acquisitions (M&A) activity in the Asia-Pacific insurance industry slowed in the third quarter, according to analysis from ratings agency S&P Global.
The organisation reported 14 M&A deals during the period: six in Japan, three in Australia and New Zealand, and one each in India and Southeast Asia, marking a decline both sequentially and year on year.
By comparison, 20 deals were completed in the second quarter, while 17 deals were struck in the third quarter of last year, led by Australia and New Zealand. In 2024, Southeast Asia, mainland China and Japan each recorded one M&A deal. M&A activity in the first quarter of 2025 had soared to 26 transactions, including seven deals in Australia and New Zealand.
S&P Global noted that while the pace of Asia-Pacific insurance M&As has slowed, momentum remains. Sompo Holdings Inc.’s proposed acquisition of Aspen Insurance Holdings, agreed in August, reflects a continuing trend of Japanese insurers expanding into the US market. South Korea’s DB Insurance also ended the quarter with plans to acquire The Fortegra Group Inc. for approximately $1.65 bn in cash from Tiptree Inc. and Warburg Pincus LLC.