The following is a LinkedIn Article written by Jay Rittberg, Managing Principal at Euclid Transactional.
In Q1 2026, Euclid Transactional saw the most global representation and warranty/warranty and indemnity insurance (RWI) submissions and policies bound for any first quarter in our history. This Q1 reflects a continuation of the M&A market trends we observed last year that included historic RWI submission volumes in the final three quarters of 2025.
Euclid received 2,744 global RWI submissions in Q1 2026, the highest in any first quarter and up 19% year-over-year. We bound 380 global RWI policies in Q1 2026, also a first quarter record and up 22% year-over-year. Global RWI submissions and policies bound both decreased quarter over quarter, which we expected, given that the final quarter of each year is historically busier than the first quarter, but we are encouraged to see the busiest start to any year in our history. The average enterprise value of global RWI submissions in Q1 2026 was $468.43M, which is not only the highest value for any first quarter in our data but is the third highest quarterly value we have seen (following Q2 2021 and Q3 2025).
On a monthly basis, each of January, February and March saw record global RWI submission volumes and bound RWI policies for any January, February or March, respectively, in our history. March’s 988 global RWI submissions were up 14% month over month from February and the most in any month thus far in 2026, ending the quarter on an upswing.
Euclid Transactional is proud to have recently released its 2025 Global RWI Claims Study covering the twelve month period ended June 30, 2025 in which Euclid paid $314 million in claims to clients, our busiest 12 month period ever for claims payments. Euclid has now paid over $1.4 billion in RWI claims to clients and counting. We remain focused on delivering the exceptional underwriting service and fair and efficient claims process for which we are known, and the corresponding need for increased premium rates for profitability and sustainability to support our service to clients.
Do our numbers align with your experiences in the M&A and RWI markets? What are your expectations for M&A in 2026? Feel free reach out to Euclid Transactional to discuss these or any other topics.
