Global merger and acquisitions in the insurance sector have reached all time record of 148.7 billion dollars this year, says a report.
"Global insurance M&A volume has reached USD 148.7 billion in 2008 year-to-date, up 34 per cent from the year-ago period," global deal tracking firm Dealogic said, adding that this is the "highest volume on record".
"Strategic activity accounted for 97 per cent of total activity in the industry so far this year, as compared to 83 per cent in 2007," the report added.
Insurance companies in the United States made the maximum number of acquisitions. US-based insurance companies made acquisitions worth $71.6 billion, up by 102 per cent from the deals a year ago.
Meanwhile, the Netherlands has emerged as the most active acquirer nation in the Europe as insurance deals worth $22.7 billion were announced. Insurance related transactions skyrocketed by 212 per cent from 2007.
In the Asia Pacific region, Japan emerged as the top nation with deals worth $5.4 billion, Dealogic said.
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Deals worth over $10 billion each accounted for nearly 36 per cent of this year's volume, which stood $53.4 billion, up from just 10 per cent last year.
Whereas, deals in the range of $1 billion to $5 billion range made up 25 per cent of the total with an announced value ot $36.7 billion, the report added.