Property and casualty insurance company Chubb has bolstered its international services with the introduction of its global transactional risk platform.
The new practice is designed to deliver transactional risk liability insurance products across international markets.
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Spearheaded from London by newly appointed senior vice-president of international transactional risk Josh Cowen, the new unit aims to cater to the needs of clients and broker partners involved in global mergers and acquisitions (M&A).
Cowen, an M&A risk insurance professional with around 15 years of experience, will lead a team of underwriters specialising in warranty and indemnity, tax and contingent liability products outside of North America.
In his new role, Cowen, who is also a qualified solicitor in England and Wales, will report to Chubb transactional risk senior vice-president Lance Fraser.
Prior to joining Chubb, Cowen held senior management positions in M&A underwriting at insurance brands and practiced corporate law at a London-based law firm.
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By GlobalDataHis expertise is expected to enhance Chubb’s existing North American operations, with a focus on meeting the complex requirements of global M&A transactions.
The new platform will operate under the leadership of Chubb transactional risk executive vice-president Edward Markovich.
Markovich said: “Chubb is positioned to support our broker partners and clients with transactional risk solutions in jurisdictions across the world with our new international business lead. Josh’s deep understanding of transactional risk underwriting, and leadership experience sourcing and leading M&A insurance placements, will complement our goal to grow our transactional risk practice as a global platform.”
Meanwhile, Chubb recently partnered with insurtech company Cytora to automate claims document processing, utilising generative AI to improve insurance workflows.
Furthermore, in December 2023, Chubb entered a partnership with cybersecurity technology provider NetSPI to bolster cyber risk management for its customers through NetSPI’s solutions.
