Fusion Specialty announces new leadership for APAC

Industry veteran to lead M&A team

Fusion Specialty announces new leadership for APAC

Insurance News

By Roxanne Libatique

Fusion Specialty, part of Pop Group Holdings, has announced the appointment of Steven Harwood as the new managing partner of M&A for its Asia Pacific operations.

Harwood (pictured) will be at the helm of Fusion's M&A team, with his responsibilities spanning from New Zealand to India, aiming to bolster the company's operations within the region.

Who is Steven Harwood

Harwood brings over a quarter-century of experience in handling transactional liability risks to Fusion. His varied career – which includes serving as an ex-Royal Navy officer, working as a reinsurance broker in London, and practicing as an English-qualified lawyer – equips him with a broad skill set ideal for the specialty insurance industry.

Recognised for his expertise in the APAC insurance market, Harwood has approximately 11 years of experience, particularly in warranty and indemnity (W&I) and tax indemnity, dealing with complex tax issues across multiple jurisdictions including India, Singapore, the UAE, Mauritius, the Netherlands, Japan, Australia, and Korea. He has become a key figure in contingent liability risks, including litigation buy-out risks, making him a sought-after underwriter for brokers in Asia looking to navigate these areas.

Prior to his current role, Harwood was instrumental in setting up and leading transactional liability teams within the APAC region, focusing on a range of liability products such as W&I, tax, and contingent liabilities. Notably, he underwrote the inaugural tax indemnity policy in Japan and led a substantial litigation buy-out project connected to a Japanese litigation risk. His career also includes significant positions at Ironshore Group's Pembroke Syndicate at Lloyd's Japan and Herbert Smith Freehills’ Tokyo office in their M&A practice.

New APAC managing partner

Fusion plans to draw upon Harwood's deep knowledge and expertise to reinforce its Asia Pacific presence, aligning with its strategic objectives to innovate and expand in the specialty M&A insurance niche.

Katherine Simmonds, CEO of Fusion International, has expressed confidence in Harwood's leadership capabilities for the APAC M&A team.

“We are thrilled to welcome Steven to the company. His extensive background, coupled with a proven track record in navigating complex transactional liability risks, makes him the ideal leader for our M&A team in the Asia Pacific region. Steven's arrival aligns with our commitment to excellence and innovation, and we are confident that his expertise will significantly contribute to our growth in the dynamic M&A insurance sector across the region,” she said.

“I am delighted to join Fusion at a time of exciting opportunities in the M&A insurance landscape. Fusion's commitment to excellence and innovation resonates with my own professional values, and I am eager to lead the M&A team in APAC,” Harwood said. “The dynamic markets in the region present unique challenges, and I am keen to leverage my experience to drive Fusion's success, contribute to the company's strategic objectives, and further solidify our position as a market leader in the transactional liability insurance sector.”

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