Although the US has historically dominated insurtech investment, a shift is gradually coming. 42% of all insurtech transactions in the U.S. took place in Q2 2019, a 4%-point decline from the previous quarter, demonstrating the growing importance of investment centers outside the U.S. There were 11 deals in the UK, 6 in China, and since Q1 2017 Lebanon registered its first insurtech deal. Lemonade, a US renters and homeowners insurance startup, was priced at a pre-money valuation of over USD 2 billion after raising USD 300 million from Allianz X, General Catalyst, Google Ventures, OurCrowd, Softbank Group and Thrive Capital.

Merger and acquisition (M&A) deals in the U.S. insurance sector increased by 51.2% in Q3 2019 over the previous quarter, says data from GlobalData. In total, the industry’s global deals were valued at USD 4.17 billion, with the U.S. market accounting for the lion’s share with 121 recorded transactions in Q3 4.3% more than the previous four-quarter average. The top M&A transactions of Q3 2019 include: Prudential Financial’s acquisition of Assurance IQ for USD 3.5 billion, the USD 384.25 million acquisition of White Eagle Asset Portfolio by Jade Mountain Partners, the acquisition of The Hagerty Group by Markel for USD 212.5 million, Aspida Financials acquisition of  Pavonia Life Insurance for USD 75 million.