Dual Group, the underwriting arm of London-based Howden, on Tuesday launched a global transactional risk facility, led by Liberty Specialty Markets, part of Liberty Mutual Insurance.
The facility combines Dual’s warranty and indemnity, tax, contingent risk, title and climate risk and resilience capabilities into a single practice and brings together more than 80 underwriters across 11 jurisdictions in the Americas, U.K., Europe and Australia and New Zealand, with additional geographic expansion planned, Dual said in a statement.
The launch comes as demand for transactional risk insurance grows amid increasingly complex and cross-border deal activity, Dual said.
The company is targeting $672 million in gross written premium from transactional risk business by 2030, Richard Clapham, CEO of Dual Group, said in the statement.
Transactional risk insurance protects deal participants against liabilities that may emerge after a transaction closes and can help reduce the risk of post-closinsg disputes, Dual said.