September 2025

How this is compiled

Every row is an insurance acquisition, merger or controlling-stake purchase announced in the trade press and aggregated by Insurtech Daily. Unlike the funding tracker, a deal is counted whether or not a price is disclosed — most acquisition prices never are, and the parties and the date are the record. Where a price is stated it is shown in US dollars, converted at a fixed reference rate, with the figure as originally printed beside it so it can be checked against the reporting it links to.

Minority investments are excluded and belong on the funding tracker instead: a stake under half a company is an investment, not a change of ownership. So are deals still described as explored, rumoured or in talks — an announced or agreed deal is counted, a possible one is not. Money raised in order to make acquisitions later is a funding round and is counted there, not here. The same deal reported by several outlets, or reported again as it moves from announcement through regulatory clearance to completion, is collapsed into one row with the extra outlets counted in the source column.

Deal counts are therefore a floor on real activity rather than a market estimate, and the disclosed total is a floor on a floor — it reflects only the minority of deals whose price was published. The earliest months here were backfilled from dated searches that surface less the further back they reach, so a rise across the earliest periods may be this tracker seeing more rather than the market doing more.

This tracker is a work in progress, and data may contain errors and/or some deals may be missing from it. We do not guarantee the accuracy or completeness of the data tracked here. Figures link to the reporting they come from — check it before citing.