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J.P. Morgan Securities tops insurance underwriter M&A league table for '18

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J.P. Morgan Securities tops insurance underwriter M&A league table for '18

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table Data Dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table Data Dispatch articles.

J.P. Morgan Securities LLC held the top spot in the 2018 insurance underwriter M&A league table even though the investment bank did not land a deal in the fourth quarter.

J.P. Morgan advised on four multibillion-dollar insurance underwriter M&A deals in 2018, the largest being a buy-side role on Axa's $15.39 billion acquisition of XL Group Ltd. The investment bank's second-largest insurance underwriter M&A deal came when it advised Validus Holdings Ltd. on its $5.54 billion sale to American International Group Inc., which closed in July.

Deutsche Bank was the only investment bank to finish in the top 10 of the insurance underwriter deal value league table and land a deal in the fourth quarter. The i-bank served as a sell-side adviser on National Farmers Union Property and Casualty Co's pending $43 million sale to National General Holdings Corp.

Three investment banks — Sandler O'Neill & Partners LP, TigerRisk Partners LLC and Waller Helms Advisors LLC — advised on the fourth quarter's largest insurance underwriter M&A transaction, The Doctors Co.'s $650 million pending acquisition of Hospitals Insurance Co. Inc. and FOJP Service Corp. from an investor group.

In the insurance brokerage space, Sica Fletcher LLC and Marsh Berry & Co. Inc. topped the insurance brokerage league table. For all of 2018, Sica Fletcher received credit for 79 insurance brokerage deals, while Marsh Berry received credit for 74 deals.

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