POP strikes M&A deal with Japanese insurer Rakuten to target Asia Pacific

Australia-based specialist insurer POP Insurance Holdings has launched a strategic partnership with Japanese property/casualty insurer Rakuten General Insurance.

The partnership will focus on mergers and acquisitions (M&A) transactions in Japan, and aims to support Rakuten’s growth across Asia Pacific.

Rakuten will provide distribution, direct insurance paper and insurance administration services locally for the Japanese M&A insurance market, while POP subsidiary Fusion M&A will deliver capacity, as well as distribution, underwriting and claims management services.

The partnership will offer a full suite of transactional insurance solutions, including warranty & indemnity, tax opinion, and contingent liability, serving the growing Japanese private equity and corporate M&A marketplace.

David Rogers, POP and Fusion’s co-founder and executive partner and head of M&A, said: “We are delighted to partner with Rakuten as another significant step in the build-out of an eco-system of partnerships across the Asia-Pacific region.”

Killian McDermott, POP and Fusion’s co-founder and executive partner, added: “There is a great opportunity for the Partnership to better serve and to lead the growth of the Japanese M&A insurance market. With our commitment to local expertise and solutions, and to enable a better insurance experience through design, data and technology, we align with Rakuten’s stated mission of 'empowering individuals and society through innovation'; and their commitment to “fulfil the diversifying insurance needs of their customers and to provide the most optimal insurance service.”

Kosuke Inada, senior executive officer, CEO office and chief underwriter, M&A insurance at Rakuten, commented: “We have entered into a partnership agreement with Fusion Specialty Insurance Pty Ltd, a highly reputable W&I insurance expert, delivering a wide range of their support in underwriting, claim handling and reinsurance capacity. Through our product, we will support M&A transactions by Japanese companies and contribute to the further development of the Japanese economy.”