Marsh poaches WTW exec to develop innovative insurance solutions
Broker Marsh has hired a Willis Towers Watson executive in a newly created role of head of specific risks in the UK private equity and mergers & acquisitions practice.
Stefan Farahani (pictured) will be based in London and report to Alastair Lowry and Leo Flindall, co-heads of UK transactional risk, Marsh Specialty.
Farahani joins Marsh Specialty from Willis Towers Watson, where he was executive director of contingent & tax risks for six years. Previously, he was a tax associate at law firm Slaughter and May for four years, during which time he was seconded to GlaxoSmithKline.
In his new role, Farahani will be responsible for developing insurance solutions for a wide range of clients, including corporates, real estate funds and private equity firms, private debt, and hedge funds. Unlike warranty and indemnity insurance – which covers unknown risks – specific risks insurance mitigates known contingent risks that could impact deal activity, impede a transaction, and result in a material loss. Farahani will build on Marsh’s recent innovations in this fast-growing product line.
Flindall said: “Specific risks insurance is a deal enabler which mitigates issues that could potentially halt transactions through ring-fencing known stumbling blocks. Widely recognised as one of the leading thinkers in this fast-growing and specialist market, Stefan’s advice and counsel will be invaluable to our clients as they work through their deals, and will complement the strength of our Transactional Risk team.”
Farahani added: “As many organisations plan for their post-pandemic futures, M&A activity is particularly strong in key sectors such as technology, infrastructure and renewables, amid renewed confidence in their recoveries. Specific risks insurance can open up transactions and remove uncertainties around a wide range of risks, such as tax, contractual disputes or regulation and subsidies, intellectual property, contractual uncertainty and litigation.
“ Marsh has an established reputation for developing innovative insurance solutions that get deals over the line, while offering protection against known and unknown risks. I am excited to join Marsh, to help develop their strong proposition, and contribute to our clients’ success.”
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