Representations and Warranties News

In Anthem-Cigna Failed Merger ‘Soap Opera,’ Judge Hands Damages to Neither

A Delaware judge rebuffed efforts by both Cigna Corp. and Anthem Inc. to collect billions over their failed merger, saying Cigna had breached its obligations but the merger was likely to have been blocked on antitrust grounds anyway. Cigna, which …

Demand for Transactional Risk Insurance High and Going Higher: Marsh

Use of transactional risk insurance significantly increased in 2018. Policy limits in excess of $1 billion are now available for single transactions as private equity firms and strategic investors increasingly use insurance to reduce the risks associated with mergers and …

Veteran Legge Joins RT Specialty’s Transactional Liability, Private Equity Practice

R-T Specialty announced the hiring of industry veteran Jonathan Legge as a senior vice president of its RT ProExec division. Legge will assume leadership of RT ProExec’s Transactional Liability and Private Equity Practice. He will be responsible for expanding R-T …

Neon’s M&A Consortium Raises Capacity to £75 Million

Neon has expanded its M&A consortium, with capacity increasing from £50 million ($62.2 million) to £75 million ($93.3 million), effective on Jan. 1, 2017. The consortium is led by Neon and is 100 percent backed by Lloyd’s markets, the London-based …

LIU, Huntersure to Offer Transactional Liability Insurance

Liberty International Underwriters (LIU) and program administrator Huntersure LLC have partnered to offer transactional liability insurance. This program will offer coverages for representations and warranties, tax liability (including tax opinion and tax credit), and contingent liability. Underwritten by Huntersure and …

RLI Launches Reps & Warranties Liability Policy

RLI Insurance Co.’s Executive Products Group has created a new Representations and Warranties Liability Insurance policy. RLI’s new Representations and Warranties Liability policy offers protection to buyers and sellers involved in corporate mergers and acquisitions from financial losses due to …

Ambridge Partners Expands Reps & Warranty Coverage for SMEs

Ambridge Partners, a managing general underwriter based in New York City, has formed a new team to focus on underwriting small- to medium-sized transactions. The group will be led by Jack Sinchak, underwriting manager, who joined the firm in 2007. …

ACE Launches Transactional Risk Coverages, Appoints Markovich to Lead

ACE Group has introduced three new transactional risk insurance products that offer protection to buyers and sellers participating in mergers and acquisitions (M&A) and other transactional deals throughout North America and in international markets. These products — representations and warranty …

Allied World U.S. Creates Mergers & Acquisitions Division

Allied World U.S. has expanded its professional lines operations through the launch of a new mergers and acquisitions division that will be headed up by Jeff Anderson, vice president, in the company’s New York office. The new division will initially …