Fusion taps senior reinsurance broker to drive Asia Pacific expansion

Fusion Specialty, the MGA platform within Pop Group Holdings, has tapped a reinsurance broker with more than 26 years of expertise in transactional liability risks to spearhead its expansion in Asia Pacific.

Steven Harwood (pictured) has been appointed as managing partner, M&A, Fusion Asia Pacific (APAC). In this role, Harwood will spearhead the Fusion M&A team in the APAC region, overseeing operations from New Zealand to India.

Fusion said the strategic move aims to expand its footprint in the specialty M&A insurance sector.

Harwood has nearly 11 years’ experience spanning warranty and indemnity (W&I) and tax indemnity – largely indirect tax matters involving India, Singapore, UAE, Mauritius and Netherlands but also Japanese, Australian and Korean tax risks. 

Fusion said Harwood is a market authority on contingent liability risks, including litigation buy-out risks, and is the go-to underwriter for Asian brokers expanding into this area.

Harwood joins Fusion having previously established and led two transactional liability teams at Volante in APAC where he was responsible for all transactional liability products including  W&I, tax, and contingent liabilities. During that time, he underwrote the first tax indemnity policy placed in the Japanese market and led a large litigation buy-out tower relating to a Japanese litigation risk. He also worked on a number of contingent liability risks, including one relating to the liquidation of the Singapore arm of a US company. He has also held key positions at Berkshire Hathaway Specialty Insurance, Ironshore Group's Pembroke Syndicate at Lloyd's Japan and in the M&A practice of Herbert Smith Freehills’ Tokyo office.

Katherine Simmonds, CEO, Fusion International, said: “We are thrilled to welcome Steven to the company. His extensive background, coupled with a proven track record in navigating complex transactional liability risks, makes him the ideal leader for our M&A team in the Asia Pacific region. Steven's arrival aligns with our commitment to excellence and innovation, and we are confident that his expertise will significantly contribute to our growth in the dynamic M&A insurance sector across the region.”

Harwood said: “I am delighted to join Fusion at a time of exciting opportunities in the M&A insurance landscape. Fusion's commitment to excellence and innovation resonates with my own professional values, and I am eager to lead the M&A team in APAC. The dynamic markets in the region present unique challenges, and I am keen to leverage my experience to drive Fusion's success, contribute to the company’s strategic objectives, and further solidify our position as a market leader in the transactional liability insurance sector.”

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