While economic markers continue to produce mixed signals, M&A saw continued growth in Q2 relative to Q1 of 2022. Our results demonstrate continued strong demand for R&W with an increase in submissions and policies bound compared to the first quarter.
A Look at Our Numbers
While total submissions increased for the entire second quarter of 2022 relative to the first quarter of 2022, submissions have fallen behind last year’s pace. Compared to years prior to 2021, however, the amount of submissions and policies bound set the market on pace for its second biggest year ever. We credit this strong adoption of the product to efficient execution and proven claims-paying ability, even during a market where submission volume may be impacted by interest rate related financing concerns and ongoing geopolitical instability. The R&W market typically sees an increase in demand during the second half of the year, and we believe this could happen again as clients look to deploy the substantial capital at their disposal before the end of the fiscal year.
See below for Euclid’s global policy submissions and deals bound by quarter for the last four year period.
Our Perspective Updates
Insurance Business America Top Insurance Employers 2022
For the second consecutive year, Euclid Transactional was announced as an Insurance Business America Top Insurance Employer for 2022! We are proud of our team’s dedication to continuing to build an inclusive and supportive environment for our employees.
War, Sanctions and Inflation
We discuss Russia’s invasion of Ukraine and how the sweeping economic sanctions that followed have upended economic growth, oil prices, commodity markets – and, as a result, introduced uncertainty to 2022’s business outlook.
In the first half of 2022, we saw a 39% increase in total claim notices – an increase that is in line with historical patterns and expected given the 110% rise in the number of policies we underwrote last year. We discuss our outlook on anticipated claims experience for the rest of the year.
Financier Worldwide Magazine’s Transactional Risk Roundtable
Managing Director Jon Friedman took part in an in-depth roundtable discussion on transactional risk management with Financier Worldwide Magazine. In the article, he discusses the importance of claims-paying reputation, underwriting experience and ability to execute fast-moving deals in a commercial manner.
Inside the Black Box: An Underwriter’s Perspective on Tax Insurance
Euclid Transactional’s tax team (Bryce Pressentin, Justin Berutich, Jeffrey Lash, Kyle Reiter, and Sydney Lodge) published an article in Tax Notes International outlining the benefits of tax insurance, the process for obtaining insurance, and common policy terms.
Business Insurance Breakout Award Winner: Justin Pierce Berutich
Managing Director and head of tax, Justin Berutich was honored in Business Insurance as one of the up-and-coming leaders in 2022.
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