Global re/insurance broker Aon’s M&A and Transaction Solutions (AMATS) unit has announced the appointment of Harriet Clarke as Director, concurrent to the launch of its Real Estate Solution for M&A transactions (ARES).
Clarke is a solicitor who joins Aon from PwC, where she served as head of the corporate real estate legal function. Her focus at Aon will be on real estate deals and advising the insurance and reinsurance broker’s transaction solutions in the marketplace.
The appointment of Clarke has been timed to coincide with the launch of Aon’s ARES. This is a new transaction solution product designed specifically for clients in the real estate space, particularly those buying real estate via M&A deals who want to protect their investments up to the full value of the asset.
Aon explains that the new solution will offer a combination of traditional warranty and indemnity insurance and more bespoke coverages related to risks that are specific to real estate deals. It includes cover on a contingent indemnity basis for some real estate-specific exposures. According to the broker, this enables a more streamlined claims process for these risks with faster access to funds.
Additionally, Aon states that ARES will include both primary and excess cover, given the need to secure 100% of purchase price limits in respect to the title and capacity warranties.
The AMATS team is closely aligned with the broker’s specialist legal indemnities team who provide a wide range of other products for complex identified real estate risks.
Simon Tesselment, Chief Broking Officer, M&A and Transaction Solutions, EMEA, Aon, said: “I am delighted to welcome Harriet to the team, and pleased to announce the launch of ARES, which has been designed specifically with the needs of our clients in the real estate sector in mind. Harriet brings a wealth of technical and market expertise that will be invaluable as we continue to focus on providing our clients the highest quality of service with tailored, cutting-edge products that can bring real value.”