Mergers and acquisitions for banks, insurance, and securities and investment companies in the second quarter were not more numerous, but the deals were worth much more, according to SNL Financial.

In insurance, there were 69 deals last quarter, down slightly from 70 in the second quarter of 2003, and down significantly from 90 deals in the first quarter. However, despite the decrease in volume, value went up 63% from the previous quarter, from $3.3 billion to $53.5 billion, and up 15% from $4.6 billion in the same quarter last year. Much of this growth was driven by a single transaction, the purchase of Oxford Health Plans by UnitedHealth Group.

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