The increased adoption of transactional risk insurance in Asia as a tool to offload risk in mergers and acquisitions (M&A) has led to a corresponding rise in claims.
Asia saw continued growth in 2022 with the entry of various new insurers into the regional market and a general expansion of insurer appetite for Asia transactions and related risks. We welcome the domestic expansion and foresee that a key differentiator for carriers, from a placement perspective, will lie in their ability to pay claims, and to do so seamlessly and expeditiously.
In 2022, we continued to see a correlation between a steady deal count and notifications received on policies placed in Asia. We also saw record-breaking claim payments across the region, including several domestic claim payments by local W&I insurers.