Travelers deepens specialist expertise by leading a Lloyd’s
transactional risk consortium and establishing a managing general agency
dedicated to M&A insurance
LONDON--(BUSINESS WIRE)--
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 Travelers
The 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190326005168/en/
Becca Watts
+44 (0)203.207.6342
Rwatts4@travelers.com
Source: The Travelers Companies, Inc.