Bermuda logged a massive $20 billion-plus in deals in the last quarter of 2014 — the highest amount of any offshore jurisdiction.

And experts predicted “merger mania” would continue into this year as firms rush to consolidate.

The Island notched up half of the ten largest mergers and acquisitions and initial public offerings of shares over the period, according to statistics from legal firm Appleby.

Appleby partner and group head of corporate business Timothy Faries said: “The year 2014 is a standout for offshore mergers and acquisitions and Bermuda continues to be an important destination for deal activity.

“We see our markets stabilising at strong levels, and we expect that 2015 will set out on a similar footing.”

The Appleby report said that Bermuda was one of only three offshore jurisdictions examined to show an increase in both deal volume and value when compared to the third quarter of last year.

Deal volume went up 9 per cent, while value jumped by a huge 134 per cent.

Across the offshore sector, 628 deals were announced and at $69.2 billion, the total value was a 38 per cent increase over the third quarter of 2014.