Fusion teams up with Allianz to launch MGA, expand W&I in Asia
Specialist insurance platform Fusion is launching an M&A insurance managing general agency (MGA) in Hong Kong following the expansion of its partnership with Allianz's corporate insurance carrier.
Fusion Specialty Asia has extended its partnership with Allianz Global Corporate & Specialty (AGCS) to provide a platform for specialist warranty & indemnity (W&I) insurance deals across the Asia region, specifically in Hong Kong and mainland China, Singapore and Southeast Asia, South Korea, India and Japan.
Under the partnership, Fusion and AGCS will offer W&I solutions serving the private equity and corporate M&A marketplace. In Hong Kong, Fusion acts as an agent for AGCS and as a hub to support the partnership across the Asian M&A insurance market.
David Rogers, co-founder & executive partner, and head of M&A, said: “We are delighted by the partnership of Fusion and AGCS. The combination of Fusion’s infrastructure, experience and partnerships, with AGCS’ high quality financial rating and extensive network of local operations across Asia, uniquely position us with a market leading M&A insurance offering for insureds, advisors and brokers.”
Jenny Wilhelm, regional manager financial lines AGCS Asia, added: “In spite of Covid-19, M&A transactions in the Asia remain active and a recent uptick in activity in Asia is encouraging. We expect this traction to continue in line with economic recovery and along with growing confidence, will produce more deals in Asia for the remainder of 2020 into 2021.”
Killian McDermott, Fusion’s co-founder & executive partner, said: “Establishing Fusion in Hong Kong as the sole licensed M&A insurance MGA in Asia, aligned with our long term partnership with AGCS, are exciting new developments for the M&A marketplace. Our expertise and joint infrastructure across Asia support our joint commitment to offer better and more flexible M&A insurance solutions, as well as more efficient services, locally.”
Mark Mitchell, managing director of AGCS Asia Pacific, commented: “AGCS is excited to continue our partnership with Fusion to bring W&I solutions to Asia to meet the needs of our clients. The introduction of our W&I offering puts us in the position to broaden our suite of products to meet the changing demands of the market.”
