Insurance: Major M&A operations in 2024

January 02, 2026
Insurance M&A
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DateBuyer Target companyTransaction amount
in billions USD
DecemberArthur J. Gallagher & Co., United StatesAssured Partners, United States13.45
SeptemberMarsh McLennan, United StatesMcGriff Insurance Services, United States7.75
DecemberAviva, United KingdomDirect Line Group, United Kingdom4.65
DecemberNippon Life Insurance Company, JapanA 21.6% stake in Corebridge Financial, United StatesAround 3.8 
JanuaryAssicurazioni Generali, ItalyLiberty Seguros, Compañia de Seguros y Reaseguros, Spain2.5
DecemberUnipol Gruppo, ItalyUnipolSai Assicurazioni, Italy0.79
AprilBNP Paribas Cardif, FranceA 9% stake in Ageas SA/NV, Belgium0.78
JuneSanlam Limited, South AfricaA 60% stake in MultiChoice Group, South Africa0.639
DecemberZurich Insurance Group AG, SwitzerlandTravel Guard , subsidiary of American International Group (AIG), United States0.6
SeptemberSanlam Life, South AfricaAssupol Holdings, South Africa0.375
DecemberCredicorp, PeruA 50% stake in Pacifico EPS Banmédica, Peru0.251
DecemberAllianz Europe, NetherlandsA 8,59 % stake in Sanlam Allianz Africa, South Africa0.244
SeptemberOneAmerica Financial Partners, United StatesVoya Financial, United States0.21
AprilHellenic Bank Public Company, CyprusCNP Cyprus Insurance Holdings, Cyprus0.195
FebruaryAltor Equity Partners AB, SwedenA 6,6% stake in Mandatum Oyj, Finland0.14
FebruaryFairfax International Corp, BarbadosGulf Insurance Group K.S.C.P, Kuwait0.126
SeptemberHaron Holding, LuxembourgDFV Deutsche Familienversicherung AG, Germany0.107
JuneSanlam Limited, South AfricaA 60% stake in NMS Insurance Services, South Africa0.066

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