Subscribe to PCE Communications
    Choose Your Subscription

    Banking, Finance & Insurance Q2 2021

    Q2 2021 Banking Finance Insurance

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • BBVA USA Bancshares, Inc.
    • The PNC Financial Services Group, Inc.
    • $11,567.00
    • Metropolitan Property And Casualty Insurance Company
    • Farmers Group, Inc.
    • $3,940.00
    • Certain U.S. Property And Casualty Business Of Farmers Group, Inc.
    • The Farmers Exchanges
    • $1,510.00
    • FBL Financial Group, Inc.
    • Farm Bureau Property & Casualty Insurance Company
    • $580.00
    • NORCAL Mutual Insurance Company
    • ProAssurance Corporation
    • $524.00
    • Title365 Inc
    • Blend Labs, Inc.
    • $450.00
    • American Access Casualty Company/Newins Insurance Agency Holdings, LLC
    • Kemper Corporation
    • $370.00
    • Protective Insurance Corporation
    • The Progressive Corporation
    • $338.00
    • Corporate Solutions Life Reinsurance Company
    • Venerable Insurance and Annuity Company
    • $300.00
    • Certain HSA Assets of HealthcareBank
    • WEX Inc.
    • $250.00

     

    Source S&P Capital IQ as of 7/15/2021 and PCE Proprietary Data

    Subscribe to PCE's Quarterly Industry Reports

    Contacts

    David Jasmund

    Orlando Office

    407-621-2111

    Michael Poole

    Orlando Office

    407-621-2112

    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. "Obsidian Acquires Western Home Insurance in California," Insurance Journal, 9 July, 2021
    2. "SEC focuses on bank fee conflicts, steps up SPAC inquiry," Business Insurance, 12 June, 2021
    3. Dezember, Ryan, “J.P. Morgan Asset Management Acquires Timberland Investment Firm,” The Wall Street Journal, Dow Jones & Company, 21 June, 2021
    4. Kharpal, Arjun, “China’s renewed crypto crackdown wipes $400 billion off the market as bitcoin slides,” CNBC, 22 June, 2021
    5. Yu, Xie, Chong Koh Ping and Joe Wallace, “Bitcoin Price Extends Drop After China Intensifies Crypto Crackdown,” The Wall Street Journal, Dow Jones & Company, 21 June, 2021
    6. “7 Major Cyber Insurers Form Company to Coordinate Cyber Analysis, Risk Mitigation,” The Insurance Journal, 21 June, 2021
    7. Hruska, Anna, “Challenger bank Dave to go public through $4b SPAC deal,” Banking Dive, 7 June, 2021
    8. “Old National and First Midwest Announce Merger to Create Premier Midwestern Bank,” Old National, 1 June, 2021

     

    Please Share This