London: 31 JANUARY 2023: Liberty Global Transaction Solutions (GTS) is pleased to announce that it has launched its Contingent Legal Risk Insurance (CLRI) M&A product into the Asia Pacific market. The new product is designed to complement the existing regional Warranties & Indemnity (W&I) and Tax Liability insurance offerings, already available in this market.
The CRLI product offers protection from identified legal risks that might otherwise prevent or adversely impact transactions, or which might result in one party bearing a greater exposure to that risk than they desire. It also enables cash to be released that is otherwise trapped or held against a contingency by using insurance capital to replace that cash collateral. Each CLRI policy is unique and tailored to the specific legal risk to be insured.
Rowan Bamford, President at Liberty GTS, commented: “There has been an increasing appetite for W&I insurance in Asia Pacific for the last few years, highlighting the increased acceptance of M&A insurance as a valuable tool during transactions. The launch of our CLRI product continues our drive to help buyers and sellers throughout the Asia Pacific region through a range of highly-effective transactional risk products.”
Will Lewis, Head of Asia Pacific at Liberty GTS, said: “The CLRI product was launched in Asia Pacific following increasing demand from our clients for insurance tools which could help them to further smooth their dealmaking. This product enables both parties to remove litigation hurdles from the transaction process and release corporate funds that would otherwise need to be set aside to pay out potential damages.”
Global Risk Solutions division, is pleased to announce that, as part of its growth strategy for Asia Pacific, welcomes three new underwriters to better service the warranty & indemnity insurance market in the region, as follows:
- Damian Ng, Underwriter for Liberty GTS in Singapore, is focusing on M&A insurance in the Asia Pacific region. Prior to joining Liberty GTS, Damian was an Associate Director at a top-tier Singapore law firm, where he worked on a broad range of corporate and commercial matters, with a particular focus on mergers and acquisitions.
- Sanjeve Prakasam, Underwriter for Liberty GTS in Singapore, is focusing on M&A insurance in the Asia Pacific region. Prior to joining Liberty GTS, Sanjeve was a corporate lawyer in two major law firms in Malaysia, where he advised on various corporate matters in relation to mergers and acquisitions, equity capital markets, corporate restructurings and all other legal aspects of corporate and commercial transactions.
- Alexandra Culas, Underwriter for Liberty GTS in Sydney is focusing on M&A insurance in the Asia Pacific region. Prior to joining Liberty GTS, Alexandra worked as a corporate associate for 6 years at several top tier firms. Alexandra has experience working on large corporate and M&A transactions with a focus on private equity and private M&A.
William Lewis, Head of Asia Pacific for Liberty GTS, commented: “Our Asia Pacific office continues to go from strength to strength and the expansion of our team will be hugely beneficial to our clients. With the addition of Damian, Sanjeve and Alexandra to our team we have one of the largest M&A underwriting teams in Asia Pacific. They all bring with them significant M&A underwriting experience and will be a fantastic addition to the team as we continue to expand our business across the region to help protect our customers from the complex risks they face in today’s M&A market.”
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About Liberty Mutual Insurance
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people and businesses embrace today and confidently pursue tomorrow.
In business since 1912, and headquartered in Boston, today we are the fifth largest global property and casualty insurer based on 2022 gross written premium. We also rank 86 on the Fortune 100 list of largest corporations in the US based on 2022 revenue. As of December 31, 2022, we had $50 billion in annual consolidated revenue.
We employ over 50,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property.
For more information, visit www.libertymutualinsurance.com.
About Liberty Global Transaction Solutions
Liberty Global Transaction Solutions (GTS) is one of the largest global M&A insurance teams in the industry. With more than 90 specialists, we have helped facilitate over 1,500 M&A deals a year on average—successfully insuring thousands of transactions since our inception.
GTS offers specialized products and services to help facilitate M&A transactions for buyers and sellers, including Representations & Warranties (R&W)/Warranty & Indemnity (W&I) Insurance, Tax Liability Insurance and One-off policies created for individual contingent risks.
For more information, visit https://www.libertygts.com/.
The foregoing is not professional advice nor legal advice, is provided for information only, and is not a substitute for consulting with a professional.
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