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    Banking, Finance & Insurance Q1 2021

    Q1 2021 Banking Finance Insurance

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • National General Holdings Corp.
    • The Allstate Corporation
    • $3,727.00
    • Security Life of Denver Insurance Company/Security Life of Denver International Limited
    • Resolution Life U.S. Limited
    • $1,250.00
    • Radius Bancorp Inc.
    • LendingClub Corporation
    • $188.00
    • Linco Bancshares, Inc.
    • First Mid Bancshares, Inc.
    • $132.00
    • Bay Banks of Virginia, Inc.
    • Blue Ridge Bankshares, Inc.
    • $97.00
    • Portfolio of life settlement policies of 2018 Life Settlement, LP
    • Undisclosed
    • $39.00
    • Willamette Community Bank
    • People's Bank of Commerce
    • $21.00
    • Personal Lines Insurance Business of United Property and Casualty Insurance Company, Inc.
    • HCI Group, Inc.
    • $8.00

     

    Source S&P Capital IQ as of 4/12/2021 and PCE Proprietary Data

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    Contacts

    David Jasmund

    Orlando Office

    407-621-2111

    Michael Poole

    Orlando Office

    407-621-2112

    David Jasmund

     

    David Jasmund

    Investment Banking | ESOP

    Orlando Office

    407-621-2111 (direct)

    djasmund@pcecompanies.com

    Connect
    407-621-2111 (direct)

    407-621-2199 (fax)

    Eric Zaleski

     

    Eric Zaleski

    Investment Banking | ESOP

    Chicago Office

    847-239-2466 (direct)

    ezaleski@pcecompanies.com

    Connect
    847-239-2466 (direct)

    407-621-2199 (fax)

    Melissa Ritter

     

    Melissa Ritter

    Investment Banking

    Orlando Office

    407-621-2128 (direct)

    mritter@pcecompanies.com

    Connect
    407-621-2128 (direct)

    407-621-2199 (fax)

    Michael Rosendahl

     

    Michael Rosendahl

    Investment Banking

    New York Office

    201-444-6280 Ext 1 (direct)

    mrosendahl@pcecompanies.com

    Connect
    201-444-6280 Ext 1 (direct)

    407-621-2199 (fax)

    Will Stewart

     

    Will Stewart

    Investment Banking | ESOP

    Orlando Office

    407-621-2124 (direct)

    wstewart@pcecompanies.com

    Connect
    407-621-2124 (direct)

    407-621-2199 (fax)

    whitcomb-woody

     

    Woody Whitcomb

    Investment Banking

    Orlando Office

    407-621-2113 (direct)

    wwhitcomb@pcecompanies.com

    Connect
    407-621-2113 (direct)

    407-621-2199 (fax)

    poole_michael

     

    Michael Poole

    Investment Banking

    Orlando Office

    407-621-2112 (direct)

    mpoole@pcecompanies.com

    Connect
    407-621-2112 (direct)

    407-621-2199 (fax)

    vogt-paul

     

    Paul Vogt

    Valuation

    Atlanta Office

    678-641-4760 (direct)

    pvogt@pcecompanies.com

    Connect
    678-641-4760 (direct)

    407-621-2199 (fax)

    Mackenzie Moran

     

    Mackenzie Moran

    Investment Banking

    New York Office

    201-444-6280 Ext 3 (direct)

    mmoran@pcecompanies.com

    Connect
    201-444-6280 Ext 3 (direct)

    407-621-2199 (fax)

    Isabel Carta

     

    Isabel Carta

    Investment Banking

    Orlando Office

    407-621-2149 (direct)

    icarta@pcecompanies.com

    Connect
    407-621-2149 (direct)

    407-621-2199 (fax)

    Philipp Seubert

     

    Philipp Seubert

    Investment Banking

    New York Office

    201-444-6280 Ext 4 (direct)

    pseubert@pcecompanies.com

    Connect
    201-444-6280 Ext 4 (direct)

    407-621-2199 (fax)

    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
    407-621-2140 (direct)

    407-621-2199 (fax)

    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

    Connect
    404-994-4650 (direct)

    407-621-2199 (fax)

    Thomas Harrington

     

    Thomas Harrington

    Investment Banking

    Orlando Office

    407-621-2145 (direct)

    tharrington@pcecompanies.com

    Connect
    407-621-2145 (direct)

    407-621-2199 (fax)

    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. Li, Yun. “SPACs Break 2020 Record in Just 3 Months, but the Red-Hot Industry Faces Challenges Ahead.” CNBC, CNBC, 19 Mar. 2021.
    2. Beltran, Luisa. Insurance Technology Firm Hippo to Merge With SPAC in $5B Deal, Barrons, 4 Mar. 2021.
    3. Johnston, John. “2021 Insurance Mergers and Acquisitions Outlook.” Deloitte, 10 Mar. 2021.
    4. Son, Hugh. “Morgan Stanley Becomes the First Big U.S. Bank to Offer Its Wealthy Clients Access to Bitcoin Funds.” CNBC, CNBC, 18 Mar. 2021.
    5. Hale, Kori. “Goldman Sachs Cryptocurrency Endorsement Boosts Wealth Management.” Forbes, Forbes Magazine, 5 Apr. 2021.
    6. Sclafane, Susanne, et al. “Industry Loss Reserves Redundant by $28 Billion: Assured Research.” Insurance Journal, 24 Mar. 2021.
    7. Carmelitano, Scott. “Banking and Capital Markets Deals Insights: 2021 Outlook.” PwC, 2021.
    8. Moorcraft, Bethan. “Insurance Pay Bumps Expected ‘Far in Excess of CPI.’” Insurance Business, Insurance Business America, 19 Mar. 2021.

     

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