| Rank |
Buyer (country) |
Target (country) |
Sector |
Transaction value |
| 1 |
Express Scripts, Inc. (U.S.) |
MedcoHealth Solutions, Inc. (U.S.) |
Services |
$28,500 |
| 2 |
CIGNA Corp. (U.S.) |
HealthSpring, Inc. (U.S.) |
Health |
3,825 |
| 3 |
Grupo de Inversiones Suramericana SA (Colombia) |
ING Insurance International BV (Colombia) |
Life |
3,614 |
| 4 |
Alleghany Corp. (Shoreline Merger
Sub, Inc. - acquirer SPAC) (U.S.) |
Transatlantic Holdings, Inc. (U.S.) |
Property/casualty |
3,427 |
| 5 |
Skandia Insurance Co. Ltd. (Sweden) |
Skandia Insurance Company Ltd. (Skandia Link,
Skandiabanken and Skandia Lifeline) (Sweden) |
Life |
3,300 |
| 6 |
Intact Financial Corp. (Canada) |
AXA Canada (Property/casualty and life and savings insurance) (Canada) |
Property/casualty |
2,684 |
| 7 |
Tokio Marine Holdings, Inc. (Japan) |
Delphi Financial Group, Inc. (U.S.) |
Property/casualty |
2,476 |
| 8 |
Zurich Financial Services AG (Switzerland) |
Santander Seguros SA (Latin American insurance operations) (Brazil) |
Property/casualty |
1,670 |
| 9 |
Carlyle Group LP (U.S.) |
RAC Ltd. (U.K.) |
Services |
1,550 |
| 10 |
Mutua Madrilena Automovilista S.L. (Spain) |
VidaCaixa-Adeslas Seguros Generales SA (Spain) |
Distribution |
1,435 |
Source: Conning Research & Consulting, Inc. analysis. |