Travelers Partners With Robert Brown to Enhance Transactional Risk Insurance Offering in Europe
26 Mars 2019 - 11:00AM
Business Wire
Travelers deepens specialist expertise by
leading a Lloyd’s transactional risk consortium and establishing a
managing general agency dedicated to M&A insurance
Travelers Europe today announced it is partnering with Robert
Brown and Dawn Bhoma, the highly regarded and market-leading
transactional risk and tax liability underwriters in London, to
significantly enhance its transactional risk insurance offering in
the UK and Europe, as demand for mergers and acquisitions (M&A)
risk transfer solutions continues to grow.
Under the partnership, Brown and Bhoma are providing their
expertise exclusively to a new Travelers-led transactional risk
consortium of insurers, which currently offers a gross capacity of
£80 million per transaction. In addition, Travelers is assisting
Brown and Bhoma in establishing a new managing general agency (MGA)
to write transactional risk on behalf of the consortium.
Transactional risk insurance covers risks related to M&A,
including representations and warranties insurance, tax liability
insurance and contingent liability insurance. These policies can
reduce the funds required to be held in escrow and provide risk
transfer options for contingencies identified during due diligence,
helping buyers and sellers close deals more efficiently and with
greater certainty.
“Transactional risk insurance is a growing segment of the
market, as buyers and sellers increasingly turn to risk transfer
solutions to mitigate deal risk and release capital quickly,” said
Matthew Wilson, Chief Executive Officer at Travelers Europe. “Our
customers will benefit from the decades of experience that Robert
Brown, Dawn Bhoma and their team bring as they navigate the complex
risks that come with M&A.”
Robert Brown said, “We are excited to be partnering with
Travelers, which has an excellent reputation in London for
specialist expertise, financial strength and innovation. We are
actively underwriting transactions on behalf of the Travelers-led
consortium and look forward to establishing a new market-leading
MGA dedicated to transactional risk in the coming months.”
Travelers has operated in Europe for decades in the general
insurance market and through Lloyd’s. Travelers Insurance Company
Limited offers business insurance, bond and specialty insurance and
risk management services. Travelers’ Syndicate at Lloyd’s
underwrites specialist and complex business classes, including
marine, global property, power and utilities, accident and special
risks, aviation and energy. Visit www.travelers.co.uk for more
information.
About TravelersThe Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto, home
and business. A component of the Dow Jones Industrial Average,
Travelers has approximately 30,000 employees and generated revenues
of approximately $30 billion in 2018. For more information, visit
travelers.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190326005168/en/
Becca Watts+44 (0)203.207.6342Rwatts4@travelers.com
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