Fusion draws AIG leader and others for expansion into US market

Specialty insurance MGA  Fusion has expanded into the US market with the hire of a financial lines expert from AIG and senior partner from JP Morgan Chase. The SME-focussed firm has launched Fusion Americas to offer new online solutions for M&A insurance.

The new insurance products have been designed specifically for small to mid-market M&A transactions. The capacity is provided by first class security, including Markel International Insurance Company, and insurance cover will be delivered over insurtech io.insure platform.

Fusion Americas will be headed by managing partner Brian Hayes (pictured, centre), with support from senior partner of underwriting & operations Michael Mora (pictured, left) and partner, M&A, Michael Federer (pictured, right).

Hayes brings nearly 20 years of global financial lines insurance experience from AIG, having spent the last six years underwriting representation & warranty insurance for complex M&A transactions throughout the Americas as part of its M&A insurance group. Prior to that, he managed significant portfolios and operations as the Mid-West Zonal Manager for AIG’s Public Company Executive Liability divisions.

Mora was part of  Fusion’s founding underwriting team. He has more than 20 years of experience in the insurance industry including senior roles in underwriting, financial reporting, financial audits, and regulatory compliance.

Federer joined  Fusion following a 16-year legal career where his practice focused on advising large corporations such as Alimentation Couche-Tard, parent company of Circle K Stores, Inc., and J.P. Morgan Chase & Co., on key strategic initiatives, partnerships and acquisition and disposition activities.  His’s practice has covered a wide variety of industries, most notably health care, finance, retail, and petroleum marketing.

Hayes said: “The small and mid-size M&A marketplace in the US is underserved with limited access to suitable insurance products offering appropriate levels of cover, conveniently and at an affordable price point. By using our expertise, combined with our unique digital solutions and partnership distribution, we will fill the protection gap and solve the inefficiencies that have hampered the development of transactional insurance for too long. We are adding further resources in the US and expect to launch InsurTech enabled - representations and & warranties and tailored SME Financial Lines products in the near future.”

David Rogers (pictured, left), co-founder and executive partner of  Fusion, added: “Having already established  Fusion Specialty as the leading small to mid-size M&A transactions insurer in Asia Pacific, we are delighted to take that valuable experience, security and technology to offer better service and cover in the US marketplace. This is an exciting milestone for us in the development of our global licensed specialty insurance infrastructure.”

Killian McDermott (pictured, right), co-founder and executive partner,  Fusion Specialty, said: “We offer unique tech-enabled solutions to resolve today’s inefficiencies and the time and resource limitations in the M&A insurance market. The result will be tomorrow’s better M&A insurance experience for insureds, their brokers, and advisors.  Fusion Americas and our M&A ecosystem partners envision significant US market growth for these niche tech-enabled M&A and specialty products and services.”

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