QBE is expanding its warranty & indemnity (W&I) insurance presence in the Nordics, appointing Samuel Pihl (pictured above) as transactional liability underwriter for the region.
Pihl, who joins QBE Nordics in Stockholm on March 10, brings experience from both the insurance industry and legal sector, having previously worked on corporate transactions at a leading Swedish law firm. He will underwrite W&I insurance across the Nordic market, leveraging QBE’s global expertise in transactional liability.
Toria Lessman, global head of transactional liability at QBE, said the expansion aligns with the increasing complexity of mergers and acquisitions (M&A) transactions.
She noted that as the M&A market grows, the need for predictability and security is becoming more important.
With this new role, QBE said that it aims to support broker partners and clients in the Nordics by offering transaction solutions tailored to business needs. The appointment follows the recent addition of Francisco Castro Yebra to QBE’s W&I team in London.
W&I insurance provides protection for buyers and sellers in M&A deals, covering unexpected warranty breaches and other transaction-related liabilities. By reducing contractual uncertainty, it can facilitate negotiations and provide additional security for investors and businesses.
Gunnar Blomqvist, QBE Nordic underwriting manager, said businesses are reassessing their strategies, with some focusing on supply chain resilience and others looking to capitalise on new technology. Meanwhile, venture capital firms have increased their activity.
Blomqvist noted that as transactions become more complex, technical expertise and insurance capacity are becoming increasingly relevant for managing risks.
The Nordic M&A market is showing signs of recovery following a period of uncertainty. According to EY, 387 deals were completed in Sweden during the fourth quarter of 2024, representing a 9% increase from the previous year.
Globally, W&I continues to grow under the larger banner of transactional risks insurance market. Marsh, one of the world’s largest brokers, reported in 2022 that transactional risk insurance placements reached US$59.3 billion across over 2,200 policies, covering 1,438 unique transactions with an aggregate enterprise value exceeding US$420 billion.
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