At the end of May, M&A activity in the UK general insurance market was 30% down on last year with just seven announced deals during the month. Publishing the data, consultancy MarshBerry said that in addition to a reduced number of transactions, the deals in 2025 had also been relatively small.

More than two thirds (69%) of 2025 deals were for businesses valued at less than £5m, compared to an average of 59%, based on more than 1,000 deals since 21016.

John Nisbet (pictured), managing director at MarshBerry, stated: “After a flurry of new deals in April, which marked the end of the tax year and an increase in the rate of Business Asset Disposal Relief, May saw a return to the low levels of announced M&A transactions seen in 2025.

“Another below-average monthly deal count means that at the end of May there have been 42 deals YTD, compared to 60 at the same time last year (-30%). The 150+ level of sector deals seen in 2023 and 2024 will likely not be matched in 2025.”