Liberty Global Transaction Solutions bullish despite M&A slowdown
On the back of hiring three experienced underwriters in October, Liberty Global Transaction Solutions (GTS) is bullish on its potential in the Asia-Pacific region. But, while the potential is great, deals are taking longer to get done, having an impact on deal flow, Will Lewis (pictured), head of Asia Pacific for GTS, told Intelligent Insurer.
“Last year was a very big year for M&A globally and this year has been pretty good as well. There was a slowdown in the second quarter, but it looks like the fourth quarter is picking up. This issue is more buyers and sellers taking longer to conclude the price. There is more negotiation around getting the deals done than there was, say, last year,” Lewis said.
In early October the division, part of Liberty Mutual’s Insurance Global Risk Solutions Division, hired Damian Ng, Sanjeve Prakasam, and Alexandra Culas for roles in Singapore and Sydney, Australia. Ng and Prakasam are underwriters for the Singapore business, focusing on M&A insurance. Culas focuses on the same areas working from Sydney.
Lewis says the business, which writes a mixture of warranty and indemnity insurance, tax risk insurance and contingent risk insurance in the region, sees opportunity in certain sectors: healthcare, and construction to name but two. But the business is dependent on wider M&A trends, which it tracks carefully.
