Global insurance industry mergers and acquisition (M&A) deals worth $US4.04 billion ($5.94 billion) were announced in August, according to analyst GlobalData.

The value marked a decrease of 15.7% on the previous month, and a drop of 13.6% compared with the last 12-month average.

In terms of volume, North America was the top region for deals, followed by Europe and Asia-Pacific. The top country for activity was the US with 27 deals, followed by Canada with six and the UK with five.

So far this year, up to the end of August, insurance M&A deals worth $US18.84 billion ($27.72 billion) have been announced, marking a decrease of 68.6% year-on-year.