M&A activity in the insurance brokerage space slowed during the second quarter.
There were 155 announced deals across the industry, down from 191 in the first quarter and 175 in the year-ago period, according to an S&P Global Market Intelligence analysis. That marked the weakest period for brokerage deals since the first quarter of 2018.

The largest insurance deal, among both brokers and underwriters, in the second quarter was American Family Insurance Group's pending acquisition of IDS Property Casualty Insurance Co. The transaction, which is expected to close in the fourth quarter, was valued at $1.05 billion.

M&A activity in the property and casualty sector dipped sequentially to 84 deals worth a combined $1.21 billion in the second quarter, down from 89 deals valued at a total of $1.40 billion in the first quarter.

