LONDON (14 August 2023) – Liberty Global Transaction Solutions (GTS), part of Liberty Mutual Insurance, is pleased to announce the appointment of Harry Ballan as Head of Tax for the Americas. Ballan will underwrite insurance solutions covering tax risks of businesses in the Americas.
Prior to joining Liberty GTS, Ballan was Managing Director for Alliant Insurance Services where he structured insurance solutions for tax, M&A and contingent litigation risks for businesses around the world. For many years he held the positions of Partner and Senior Counsel at Davis Polk & Wardwell LLP. Ballan is also Adjunct Professor of Law at New York University Law School and was Dean of Touro Law School.
Rowan Bamford, President at Liberty GTS – a leading provider of Representations & Warranties (R&W)/Warranty & Indemnity (W&I) Insurance, Tax Liability Insurance, and one-off policies created for individual contingent risks – commented: “We see new opportunities in this changing economic landscape. Many companies will look to reorganize themselves, which may lead to uncertainty around tax treatment. Or they might simply seek to optimize their balance sheets to release or reduce tax exposures. Here tax insurance products that can crystallize the cost of an expected tax liability are highly attractive.
“We are in a prime position to expand our tax offering in this area as interest in this product grows; Harry’s unparalleled experience in mergers and acquisitions, tax controversy and litigation will drive the business at a strategic level.”
Scott Pegram, Head of Americas at Liberty GTS, commented: “This is an ever-evolving sector of the market and Harry’s appointment will allow us to strengthen and build out our tax liability insurance practice across the region. Harry has unmatched technical knowledge and contacts in this space. He has an ideal skillset to identify new areas of insurable risks which will help our clients solve problems they haven’t thought of and enable them to increase their profitability and liquidity.”
Liberty GTS’ tax liability insurance (TLI) product is designed to meet our clients’ needs in de-risking their balance sheets for identified tax issues by transferring the risk to insurers. Our TLI underwriting team focuses on the facts, tax analysis, and commercial context that shape and inform the risk in question, in order to provide bespoke cover for our clients.
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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.
Contacts:
Bijal Tanna, Omnia Partners
+ 44 (0) 7772 877 364