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Global Transactional Risk Report

Europe, Middle East, and Africa

Panarama of the mountains, snow and blue glacial ice of the Smeerenburg glacier, Svalbard, and archipelago between mainland Norway and the North Pole. An inflatable boat is anchored in the foreground.

The transactional risk market in Europe, the Middle East, and Africa (EMEA) experienced a distinct shift in 2022.

The first half of the year was characterized by very competitive, seller-driven auction processes, often for transactions of larger sizes. The heightened demand for transactional risk insurance solutions during this period led insurers to be more selective on the transactions they wished to compete for and the terms on which they would engage with prospective insureds.

There was a significant shift in activity in the second half of 2022, driven by the numerous geopolitical and macroeconomic events taking place in Europe and globally. In certain countries and regions across EMEA, including in particular in the UK, Italy, and Central and Eastern Europe, the overall transaction volumes seen by Marsh remained broadly consistent in 2022, compared to the previous year. In many other parts of EMEA — including the Nordic countries, Benelux region, and Germany — there was a material reduction in transaction volumes when compared to 2020 and 2021. Across all EMEA, transaction timetables were significantly extended in the second half of 2022 and, generally, there was a shift in bargaining power from the sell-side to the buy-side. This was most markedly observed in lower valuations and a decreased intensity in deal tempo and timelines. This slowdown of deal timetables led to a smaller pool of placements proceeding to a formal underwriting process, although, as a result of the busier first half of the year, the total number of policies placed in EMEA was flat compared to 2021.


Global Transactional Risk Report 2022

Other regions

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. LCPA 23/075

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”