20 February 2020
Global insurance broker and risk adviser, Marsh, has introduced a new Tax Liability Practice in an expansion of its Private Equity and M&A (PEMA) services offering in Australia [Pacific].
This unique dedicated practice, the first of its kind for Marsh in the Pacific region, has been established to meet the growing need from clients to use tax liability insurance to manage risk in an increasingly complex regulatory environment.
Tax liability insurance for a transaction is increasingly being sought out by all parties as a necessary tool to help address tax exposure uncertainties. Measuring and managing this risk is growing in prominence given the consequence of not doing so can hinder the execution of a transaction and become a material issue to the ongoing business.
The new tax practice will complement PEMA's current offering which includes insurance broking, insurance due diligence and business integration solutions.
Kane Sim has been appointed as head of PEMA's new tax practice. Kane is an experienced and legally qualified tax specialist and former practicing solicitor whose background includes utilising his expertise in strategic tax planning, capital structure, tax governance and operational tax affairs. Kane joins Marsh from PwC where he worked in the Sydney and Boston offices.
Commenting on Marsh's new tax offering, Chris McDermott, Head of PEMA - Marsh JLT Specialty, said, "Our new Tax Liability Practice complements our well-established M&A services offerings and enhances our ability to offer our clients highly specialised tax-related risk strategies.
"Kane is an excellent appointment to lead this new practice. His in-depth understanding of M&A, strategic tax planning, tax governance and operational tax affairs, as well as his deep industry connections, ensures we are well placed to take advantage of our specialist offering in this market," he said.
Commenting on his appointment, Kane Sim said, "I am delighted to join the Marsh PEMA team and look forward to providing clients with tailored strategies to manage their tax risk while growing this unique practice area."
Kane commenced his role on 5 February and reports to Chris McDermott.
About Marsh Private Equity and M&A Services (PEMA):
PEMA is a global Marsh business practice with a dedicated team of specialists who work with clients to create value by risk mitigation throughout the investment life cycle [including capital raising, M&A, portfolio management and exit strategies].
The practice has four main service offerings:
- Insurance Broking to de-risk merger and acquisitions - Warranties and Indemnities (W&I) and similar solutions brokered through our Transactional Risk team.
- Advice - Insurance Due Diligence
- Integration, and New Programs - Transition (100-day plan), post-transaction insurance, portfolio solutions.
- Tax - highly specialised tax-related risk strategies.
