POP Insurance, a specialist insurance group in Australia, has formed a strategic alliance with Rakuten General Insurance to focus on mergers and acquisitions (M&A) transactions in Japan.
Pursuant to the terms of the strategic partnership, Rakuten will offer distribution, direct insurance paper and insurance administration services locally for the Japanese merger and acquisition insurance market.
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Similarly, POP Insurance’s subsidiary Fusion Specialty M&A will provide capacity, along with distribution, underwriting and claims management services.
The partners will deliver a comprehensive assortment of transactional insurance solutions, such as warranty & indemnity, tax opinion, and contingent liability to private equity and corporate M&A marketplace in Japan.
POP and Fusion co-founder and executive partner Killian McDermott said: “There is a great opportunity for the Partnership to better serve and to lead the growth of the Japanese M&A insurance market.
“With our commitment to local expertise and solutions, and to enable a better insurance experience through design, data and technology, we align with Rakuten’s stated mission of ’empowering individuals and society through innovation’; and their commitment to “fulfill the diversifying insurance needs of their customers and to provide the most optimal insurance service.”
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By GlobalDataRakuten senior executive officer, CEO office and chief underwriter, M&A insurance Kosuke Inada said: “We have entered into a partnership agreement with Fusion Specialty Insurance Pty Ltd, a highly reputable W&I insurance expert, delivering a wide range of their support in underwriting, claim handling and reinsurance capacity.
“Through our product, we will support M&A transactions by Japanese companies and contribute to the further development of the Japanese economy.”
