In 2025, the insurance sector in Europe, the Middle East, and Africa experienced a continued deceleration in merger and acquisition activities. However, this period also saw a significant rise in the number of exceptionally large transactions, a shift from the previous year's trend.
EMEA Insurance M&A Trends: A Closer Look at 2025 Activity
Data from 2025 indicates a total of 255 merger and acquisition deals within the EMEA insurance market. While this represents a decrease in overall transaction volume compared to earlier periods, the year was distinguished by a notable uptick in high-value deals. Specifically, nine transactions surpassed the €1 billion mark, a substantial increase from just three such deals observed in 2024. The peak of this activity occurred during the second quarter of 2025, which recorded 79 deals, closely followed by the first quarter with 63 deals. This trend suggests a strategic emphasis on larger, more transformative consolidations within the industry, as companies pursue more impactful acquisitions despite a general slowdown in deal frequency.
This evolving landscape suggests that while the frequency of insurance M&A activities might be cooling, the strategic intent behind these transactions is intensifying, focusing on scale and market impact. Companies appear to be prioritizing high-value, transformative deals to consolidate market positions and achieve greater synergies, indicating a maturing and strategically driven market rather than one simply driven by volume.
