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Risk in Context Podcast: Global trends and innovations in transactional risk insurance

Economic uncertainty and financial challenges have contributed to shifts in the transactional market, with merger and acquisition activity across the globe slowing down in 2023 from the highs seen earlier in the decade.

Economic uncertainty and financial challenges have contributed to shifts in the transactional market, with merger and acquisition activity across the globe slowing down in 2023 from the highs seen earlier in the decade. However, demand for transactional risk insurance has remained high as both buyers and sellers recognize the benefits of purchasing robust coverage for their transaction.

At the same time, increased competition among insurers has led to preferential pricing for transactional risk coverage. As they compete for premium dollars, insurers also are seeking to innovate and broaden their products.

In this episode of Risk in Context, Craig Schioppo, Marsh’s Global Head of Transactional Risks, talks to colleagues Craig Warnke, Martha Barajas, Hans Swolin, Leo Flindall, Kane Sim, and Haoren Fu about transactional risk trends across different regions. Each speaker shares advice for companies looking to manage their transactional risks throughout 2024 and beyond.

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Key takeaways

Strong demand for transactional risk insurance.

Despite a challenging M&A environment, 2023 saw continued interest in securing coverage for transactions across all regions.

Underwriting capacity remains plentiful.

New entrants to the market have contributed to ample capacity available for a smaller pool of transactions, leading insurers to invest in innovative products to remain competitive.

Many transactional risk insurance buyers saw competitive pricing.

A soft market cycle and increased competition among insurers have led to a buyer friendly environment, with overall lower prices and retentions and broadened coverage typically being offered. 

About our speakers

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Craig Schioppo

Global Head, Transactional Risk

Craig Schioppo is Marsh’s Global Head of transactional risk. He oversees a global team of specialists responsible for the delivery of transactional risk insurance solutions, including representations and warranties insurance, to private equity and strategic investor clients engaged in mergers and acquisitions around the world.

Kane Sim

Kane Sim

Head of Transactional Risk, Pacific

Kane Sim leads Marsh’s Transactional Risk Practice in the Pacific region. In this role, he provides strategic risk management advice to clients for their merger and acquisition transactions and structures bespoke solutions to help transfer deal risks to the insurance market.

Leo Flindall

Leo Flindall

Co-Head, Transactional Risk, UK

Leo Flindall is the co-lead of Marsh’s UK Transactional Risk Practice. Since joining Marsh in 2012, he has advised on over 500 transactions and has worked closely with a broad range of clients, including private equity funds and corporates.

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Craig Warnke

Chief Operating Officer, Transactional Risk, North America

Craig Warnke is a managing director within Marsh’s Transactional Risk Practice. Specializing in transactional risk insurance, he is responsible for advising clients primarily on representations and warranties insurance.

Martha Barajas

Martha Barajas

Head of Transactional Risk, Latin America & The Caribbean

Martha Barajas is Marsh’s Transactional Risk Leader for Latin America and the Caribbean, responsible for advising on and structuring insurance capital solutions to support and facilitate M&A transactions in Mexico, Latin America, and the Caribbean. She has a Master’s Degree in International Business Law and has more than 15 years of experience working for national and multinational companies leading corporate, mergers and acquisitions, compliance and public affairs teams, for Fortune 500 enterprises. 

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Haoren Fu

Head of Transactional Risk, Asia

Based in Singapore, Haoren Fu leads Marsh’s Transactional Risk Practice in Asia. His key responsibilities include overseeing the development and placement of transactional risk insurance products, which include Warranty & Indemnity (W&I) Insurance, Tax Liability Insurance, and Contingent Risk Insurance, across the region. He also manages Marsh Asia’s relationships with insurers to help clients access the best coverage options.

Hans Swolin

Hans Swolin

Co-Head Transactional Risk Europe, Middle East & Africa | Head of Nordics, Private Equity and M&A

Hans Swolin is a co-head of Marsh’s Transactional Risk Practice for Europe, the Middle East, and Africa. He also leads the Nordics Private Equity and M&A Practice. Alongside a cross-border team, he helps develop solutions that enable corporates, private equity firms, alternative asset managers, lenders, and infrastructure investors to manage their M&A risks.

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