15 June 2018Insurance

Sompo launches M&A transaction risk insurance in Europe

Bermuda-based property and casualty re/insurer Sompo International Holdings has launched a new transaction risk insurance line of business, expanding its professional lines insurance offerings, in Europe.

The new business targets parties on either side of a merger or acquisition (M&A) transaction, providing coverage against losses arising from warranties and indemnities (W&I) breaches and other risks.

The programme targets public and private companies domiciled or conducting their core business throughout Europe. Primary and excess attachments are available for buyer-side W&I, seller-side W&I, seller-induced buyer-side W&I and tax liability insurance for European tax risks related to M&A transactions.

“Since the launch of Sompo International’s European platform in March, we’ve focused on delivering market-leading management liability, professional indemnity, financial institutions and cyber liability products to clients across Europe. Our new M&A products expand these capabilities, further strengthening our ability to help companies manage the broad range of risks associated with their fiduciary and contractual responsibilities,” said Thomas Mannsdorfer, EVP and head of European specialty underwriting at Sompo International.

Richard Allen, EVP, head of professional lines, London Market & Europe insurance, added: “Backed by Sompo International’s A+ rated underwriting capacity and with the flexibility to service accounts through both our London based and new European entities, the introduction of these additional professional lines products complement our growing portfolio. Thomas’ in-depth knowledge in this area along with new underwriting talent recruited to our European Specialty team will enhance Sompo International’s presence in this important market.”

Make sure you are GDPR compliant and  confirm your email address to keep getting our daily emails

More of today's news

Lemonade sues ONE Insurance and parent wefox over copying software

FIFA World Cup poses significant challenges for insurers

Ironshore bolsters M&A unit with Aon, AIG and XL hires

Niche reinsurer Sequoia enters market, led by PartnerRe veteran

Hyperion strikes strategic partnership with India's WNS

P&C industry’s reserve position strengthened in 2017: Conning

RSG names CEO of new property cat underwriting facility

Don't miss our insurtech email newsletter - sign up today

Already registered?

Login to your account

To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.

Two Weeks Free Trial

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk


More on this story

Insurance
6 September 2018   Bermuda-based re/insurer Sompo International Holdings is launching a global financial and professional lines platform encompassing insurance and reinsurance capabilities.
Insurance
28 June 2018   Bermuda-based property and casualty re/insurer Sompo International Holdings has developed a new suite of weather-driven risk management products tailored for the real estate and hospitality sectors.
Insurance
18 May 2018   Sompo Holdings expects consolidated ordinary profit to double in the full year 2018 (ending March 31, 2019) based on the impact of hurricanes in North America and large losses.