Managing Director Sedi Asem and Associate General Counsel and Managing Director Joe Corsello were profiled as Transactional Risk and Insurance Power Players by Financier Worldwide Magazine this week. See below for Sedi and Joe’s profiles.
Personal Biography
Sedi Asem is a managing director at Euclid Transactional. He is responsible for underwriting transactional risk in domestic and global mergers and acquisitions in a broad range of industries. Prior to joining Euclid Transactional, he was a corporate attorney at White & Case LLP in the M&A group. Prior to that position, he was a government contracts accountant at CACI International. Mr Asem graduated with a BBA from Marymount University and holds a JD from the University of Virginia School of Law
Q&A with Sedi Asem
Looking back, have you fulfilled the ambitions and aspirations you set for yourself early in your career?
When I was in law school, I had no knowledge of the transactional risk insurance product. My goal in law school was, like many students, to receive an offer from a major law firm and eventually become a partner. However, while working at such a firm the opportunity to join Euclid came along, and joining Euclid became the second-best decision I have made professionally, second only to the decision to transition from accounting to law about a decade prior. At Euclid, I have still been able to work on M&A transactions, but I have also been able to utilise my skills in accounting and risk analysis more than being a corporate attorney at a law firm requires, which has been very rewarding intellectually.
What strengths and characteristics do you, your team and your firm strive to demonstrate to clients?
We strive to be known as one of the most commercial markets in the industry and for our ability to execute quickly. We are often engaged on transactions toward the end of the M&A process, including in auction processes where a prospective insured has been selected as the successful bidder and has a small window of exclusivity in which they may sign the transaction and complete the representations and warranties underwriting process if they would like to sign the deal and bind the policy concurrently. In those cases, it is essential for buyers to engage underwriters who have a demonstrated ability to execute on extremely short timelines, which involves balancing our need to protect ourselves from covering exposures that we believe our policies should not cover while also taking a pragmatic view that is guided by our years of claims experience and not excluding every imaginable risk.
Reflecting on your area of expertise, how do you see this sphere of the market shaping up over the coming months? Are any exciting trends or developments on the horizon?
I primarily underwrite large M&A transactions, including dozens of billion-dollar transactions and multiple transactions valued at over $10bn, as well as transactions with a significant international component where understanding key exposure areas in various jurisdictions globally is essential. There was a period where the number of large transactions that we saw in the M&A market slowed, but we have been pleased to see a noticeable uptick in those transactions over the last several months and we are optimistic that trend will continue through the end of 2024 and into 2025.
Personal Biography
Joe Corsello is associate general counsel and managing director of claims at Euclid Transactional, focused on assessing and processing claims quickly, as well as ensuring that each client receives a fair and effective resolution. Prior to joining the firm, he was a litigator at Gordon, Rees, Scully & Mansukhani, LLP. In this role, he advised Fortune 500 manufacturing companies on regulatory compliance and risk management. He graduated with a BA in international & global studies from Brandeis University and holds a JD from Cardozo School of Law.
Q&A with Joe Corsello
What strengths and characteristics do you, your team and your firm strive to demonstrate to clients?
Euclid provides a collaborative, client focused approach with the goal of providing a premium, seamless underwriting and claims process. Our claims team prides itself on transparency and a collaborative spirit. Our diverse perspectives and team-first mentality generates streamlined claims handling and efficient resolutions. We engage with the client, the broker and advisers almost immediately upon receiving a claim. We have discovered that establishing our availability to assist early on and setting the tone that we are there to help, can contribute to a smoother claims process. Across our global claims team of 21, the largest in the industry, the level of claims experience and expertise we have is extraordinary. Our cross-team collaboration with our underwriters allows Euclid to respond quickly and effectively to market trends and act accordingly.
Could you provide an insight into how you approach your work? What drives and motivates you?
I approach each day at Euclid with humility and ambition, embracing opportunities to learn from my talented colleagues and the broader RWI industry. Euclid is full of exceptionally talented, solution-oriented professionals, and I am inspired by their intelligence and dedication. My motivation lies in refining my skills to uphold Euclid’s reputation for best-in-class service. I strive to ensure our claims experience reflects our commitment to excellence and client satisfaction. Effective communication and empathy are essential during the claims process, leading to more efficient investigations. I approach each claim with patience and understanding, recognising that clients submit claims because they are facing challenges. This perspective is crucial in resolving complex issues that arise post-closing with diverse companies from different industries. Ultimately, my goal is to support our team in delivering exceptional service and fostering trust with our clients.
In what ways do you endeavour to support the career development of your colleagues rising through the ranks?
Euclid’s claims team has expanded significantly to support the company’s growth without sacrificing premier client service. Our team is composed of individuals from diverse backgrounds, allowing us to learn from one another daily. I prioritise collaboration within the claims team, encouraging all members to seek input from these varied perspectives. At Euclid, we foster a culture of feedback at all levels, regardless of title or tenure. This commitment to 360-degree feedback promotes open dialogue all year round. I vigorously champion my colleagues’ ideas, ensuring they feel empowered in their career development. I actively seek new opportunities for the team that allows them to build on their skills and encourage collaboration. This approach facilitates team development and improves our overall effectiveness. Our team’s dedication to each other and to Euclid’s goals inspires me to invest in everyone’s professional growth, contributing to our shared success.
