Large M&A deals in finance and insurance hit highest level since financial crisis in Q1 2026
Large M&A deals in finance and insurance hit highest level since financial crisis in Q1 2026. According to WTW, 12 deals worth over $10 billion were closed in Q1 2026, the highest quarterly figure since 2008.
According to the Quarterly Deal Performance Monitor, the increase in the share of large deals led to an increase in the total value of completed transactions to $438 billion, which is the highest in the last five years. This figure increased by 155% compared to the same period in 2025.
In Q1, 56 large deals worth over $1 billion were closed, which is slightly higher than the previous quarter and significantly higher than the 40 deals in Q1 2025.
WTW’s Jana Mersereau noted that megadeals are back with renewed vigor. She said well-capitalized buyers are returning to the M&A market with greater confidence, using the improved conditions to execute strategic deals, expand businesses, close technology gaps and acquire AI-related solutions.
European buyers led the M&A market in the first quarter of 2026 and performed best.
According to WTW, European companies outperformed non-M&A companies by 6 percentage points in share dynamics, closing 40 deals. UK buyers showed similar dynamics.
Meanwhile, Asia-Pacific buyers performed weaker, lagging the regional index by 3.4 percentage points, despite closing 49 deals. Chinese companies remained active, completing 21 deals and supporting the market’s recovery after a slump seen since 2024.
North American buyers also lagged the benchmark, underperforming by 5.4 percentage points, despite closing 117 deals in the first quarter of 2026.
This is still an improvement from the fourth quarter of 2025, when the lag was 16.1 percentage points with 96 deals.
Mersereau noted that pent-up demand, a more favorable regulatory environment and strong company balance sheets have revived activity in the M&A market and pushed deal volumes to historic highs.
However, the duration and scale of the conflict in the Middle East could slow the market, forcing companies to extend deal terms and conduct more in-depth due diligence.
Despite this, boardroom confidence remains high, and market participants are adapting to rising geopolitical risks and continuing to pursue strategic deals.