Insurtech Deal Numbers Halve in Q3

Fintech Global reports that there were 53 insurtech deals globally in the third quarter, down from 104 in the same period last year. This follows 52 deals in Q2 and 65 in Q1 of this year. If this trend persists, the projected 2024 deal activity total would be around 208, a significant 33% drop from 2023’s 312 deals.

Sedgwick’s Major Deal: Sedgwick had the largest deal, obtaining $1 billion in equity from Altas Partners. This funding will support its international expansion, technological progress, and operational resilience.

Q3 Funding Figures Excluding Outlier: Excluding the Sedgwick deal as an outlier, the total insurtech funding in the third quarter was approximately $1.38 billion, with an average deal size of $26 million.

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